Stock Market Today: 46 Stocks Hit 52-Week Lows, 168 at 52-Week Highs as Nifty 50, Sensex End Higher

Indian equity benchmarks ended Monday’s trading session in positive territory, buoyed by strong buying interest across banking, IT, and FMCG counters. Even as the broader market presented a mixed picture with 46 stocks hitting 52-week lows, a robust 168 stocks scaled fresh 52-week highs, signaling continued investor optimism and sector-specific momentum.

The BSE Sensex closed higher by 305 points or 0.41% at 75,278, while the NSE Nifty 50 rose by 92 points or 0.40% to settle at 22,930. The day's gains were driven by heavyweights such as HDFC Bank, Infosys, and Hindustan Unilever, amid resilient global cues and easing bond yields.

Market Breadth and Highlights

Despite the benchmark indices ending higher, market breadth remained slightly skewed. On the BSE:

• 168 stocks touched their 52-week highs, driven by upbeat corporate earnings and sectoral tailwinds.

• 46 stocks touched 52-week lows, reflecting stress in certain small-cap and micro-cap segments.

On the NSE, advances outnumbered declines, with 1,396 stocks advancing against 1,123 that declined, while 86 remained unchanged.

Sectoral Snapshot

The rally was led by banking, information technology, and FMCG stocks. The Nifty Bank index surged 0.75%, with ICICI Bank and Axis Bank among top performers. The Nifty IT index gained 0.9%, aided by a softer US dollar and easing recession fears in the US economy. FMCG names also saw buying interest as rural demand indicators showed signs of recovery.

However, realty, media, and some pharmaceutical stocks faced profit-booking, dragging their respective sectoral indices.

Top Gainers and Laggards

Top Nifty 50 gainers:

• HDFC Bank (+2.3%) – Riding on expectations of strong Q1 results.

• Infosys (+1.9%) – Benefiting from steady deal wins and rupee weakness.

• HUL (+1.6%) – Gaining on the back of improved monsoon coverage.

Top Nifty 50 losers:

• Adani Ports (-1.5%) – Pressured by profit-booking after recent highs.

• Tata Steel (-1.2%) – Weak metal prices dragged sentiment.

• SBI Life (-1.1%) – Witnessed mild correction post last week’s rally.

Analyst Commentary

“Despite some global uncertainties, Indian markets continue to outperform on the back of domestic demand resilience, government spending, and improved GST collections,” said Meena Shankar, Senior Equity Analyst at CapitalLine Securities. “However, the divergence in stock performance — with a large number of lows and highs — suggests selective participation. Investors are choosing quality over breadth.”

Rajiv Mehra, CIO at Omega Investment Partners, added, “We are entering earnings season, and valuations are already stretched in several segments. So while frontline indices might still inch up, broader markets may remain volatile, especially in the mid-cap and small-cap space.”

Global and Macroeconomic Context

Asian markets were largely positive, with Japan’s Nikkei and South Korea’s Kospi gaining amid signs that inflation is stabilizing in key economies. US futures were flat ahead of a shortened trading week due to the July 4 holiday.

Domestically, India’s manufacturing PMI for June came in at 58.4, slightly lower than May’s 58.7 but still indicating strong expansion. The rupee remained steady at ₹83.26 per dollar, while Brent crude prices hovered near $83.5 per barrel, posing no immediate threat to inflation expectations.

Technical View

From a technical standpoint, the Nifty has closed above the crucial resistance level of 22,900, hinting at further upside potential.

“Nifty 50 has formed a bullish candle on the daily chart. If it sustains above 22,950 in the next session, we could see an attempt to breach the 23,100 mark,” said Rohit Singhania, Head of Technical Research at DecaCapital. “However, support exists at 22,800, below which short-term weakness may resume.”

Investor Outlook

While large-caps continue to provide stability, the volatility in broader markets suggests caution. Sectors like IT, banking, and FMCG offer better risk-reward in the near term, while investors are advised to be selective in mid- and small-cap space.

Foreign Portfolio Investors (FPIs) were net buyers today, injecting around ₹1,240 crore into Indian equities, indicating continued confidence in India’s macroeconomic prospects.

Retail investors should focus on quality stocks and avoid chasing high-beta counters that have already run up significantly. With corporate earnings just around the corner, stock-specific action is expected to intensify.

The Indian equity market's positive closing on Monday reflects investor resilience and sector-specific bullishness. However, the divergence in stock performance underscores the need for cautious optimism. With macroeconomic data supporting a stable outlook and the earnings season set to begin, all eyes will be on corporate commentary and forward guidance.