Stock market today: 28 stocks hit 52-week lows, 92 stocks at 52-week highs as Sensex, Nifty 50 end over 1% higher
Stock market today: On Thursday, 92 stocks hit their 52-week high, including APL Apollo Tubes Ltd, Bharat Electronics Ltd, Dalmia Bharat Ltd, ICICI Bank Ltd, Max Financial Services Ltd, Shree Cement Ltd, and Solar Industries India Ltd.
In contrast, 28 stocks touched 52-week lows, with notable mentions like Spectrum Electrical Industries Ltd, Ratnabhumi Developers Ltd, and Wendt (India) Ltd.
Today, the Indian stock market ended on a high note, with the Nifty 50 surpassing the 25,000 milestone, gaining 1.6% (an increase of 395 points), while the Sensex rose by 1,200 points (1.48%) to finish at 82,530.74. This represented the highest point for the Nifty 50 in almost seven months.
According to experts, the surge in the market was primarily fueled by optimism following US President Donald Trump's statement that India had proposed a deal to eliminate tariffs on US products, raising hopes for a potential zero-tariff trade agreement between the two nations.
Vaibhav Vidwani, Research Analyst at Bonanza, said that declining crude oil and gold prices, substantial inflows from foreign institutional investors, a weakening US dollar, and easing inflation data bolstered expectations for potential rate cuts by the RBI, further driving upward momentum. The market capitalization increased by ₹ 5 lakh crore, indicating strong buying interest.
'The benchmark index outperformed the broader market, buoyed by growing optimism around reduced operational costs and a potentially more accommodative monetary policy stance. Investor attention is now turning to the upcoming speech by the Federal Reserve Chair, which is anticipated to provide further clarity on the future policy trajectory, particularly in light of the recent easing in US inflation data,' said Vinod Nair, Head of Research, Geojit Investments.
According to Rupak De, Senior Technical Analyst at LKP Securities, the recent consolidation breakout, along with a move above the swing high, has increased the probability of the index reaching 25,690 in the short term. Immediate resistance is placed at 25,360, above which further upside potential may be unlocked.
'On the downside, 24,400 is expected to act as strong support in the short to medium term. A decisive break below this level could cause the ongoing rally to lose momentum. Until then, a buy-on-dips strategy is likely to remain effective,'said De.
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Mint
37 minutes ago
- Mint
Best stocks to buy today, as recommended by NeoTrader's Raja Venkatraman
India's stock market wrapped up last week on a high, posting nearly a 1% gain thanks to positive domestic developments. Initially, caution prevailed as investors awaited the Monetary Policy Committee's (MPC) decision. However, a pleasant surprise—a 50-basis point cut in the repo rate and a staggered 100-basis point reduction in the cash reserve ratio—swiftly shifted sentiment. This led to a significant upward surge, after which the market stabilized for the rest of the day. Ultimately, the Nifty 50 index closed near its daily high at 25,003.05. Here are three stocks to buy or sell today, as recommended by Raja Venkatraman of NeoTrader for Monday, 9 June. POLYCAB: Buy CMP and dips to ₹ 6,000 | Stop: ₹ 5,950 | Target: ₹ 6,525-6,700 BORORENEW: Buy CMP and dips to ₹ 542 | Stop: ₹ 525 | Target: ₹ 615-630 DALBHARAT: Buy above ₹ 2,120 and dips to ₹ 2,090 | Stop: ₹ 2,070 | Target: ₹ 2,250-2,325 The market rally on 6 June was broad-based, with all major sectors contributing. Rate-sensitive sectors like realty, financials, and auto were the biggest beneficiaries, with other sectors also performing well. Broader market indices also extended their gains, rising between 0.8% and 1.2%. While the Nifty 50 is still in a consolidation phase, the renewed vigor in rate-sensitive sectors, especially the breakout in the banking index, has reignited hopes for a sustained upward trend. A definitive break above 25,200 on the Nifty could initiate the next leg of the rally, potentially propelling the index towards 25,600. Looking ahead, the impact of the recent rate cut is expected to continue driving market sentiment. The rate-sensitive segments, along with specific themes like railways, are likely to remain in the spotlight, with other sectors contributing in a rotational manner. Finally, after some huffing and puffing, the Nifty 50 managed to crack through the resistance at 25,000 and powered its way higher by Friday. In between, there were some intraday fulminations but the bulls managed to hold the wheel and did not allow the trend to go off the road. Matters were helped in the last week when the best efforts by the bears were held at abeyance over three successive sessions, with Doji type candle formations. When such a pattern gave way to a bullish candle starting on Monday, the stage was set for more gains. Results flow has been good for the fourth quarter, and some heavyweights came out with Street-beating numbers, which has kept the sentiment juices flowing rather nicely. In addition, activity in the mid- and small-cap segments has also been good. With the threat of the Trump tariffs now receding with no real clarity, the market has one less item to worry about. The Reserve Bank of India's policy was the turning point last week. On Friday, the RBI Governor went beyond anticipation to give a 50 basis point repo rate cut and 100 bps CRR cut to bolster the banking and financials sectors. (TradingView) Bank Nifty compared to Nifty has fared well and would give us more than fair evidence of continued bullish play to emerge next week, however on dips. Considering the pointers, one should look to buy at lower levels in the indices. The sharp rise in trends on Friday beyond the much-touted resistances at 25,000 has given us some opportunity to look for some opportunities in Nifty now. Trading has been quite challenging as the movements are happening in spurts hence it's best to trade with suitable stop loss. Applying a fair amount of discretion shall enable us to profit from the volatility that shall continue, as we are now witnessing some positive vibes against the backdrop of a pensive global scenario. POLYCAB: Buy CMP and dips to ₹ 6,000 | Stop: ₹ 5,950 | Target: ₹ 6,525-6,700 Why POLYCAB is recommended: With about 25% organized market share, Polycab leads the domestic C&W market. The company is present in both cables (65% of the sales mix) and wires (25-30% of the mix).However, Jefferies feels that the stock will not face major headwinds as it already has an established presence and the new competition will take time to impact the revenues. This has led to a double bottom formation and a gradual ascent to the top . With prices holding firm at the TS line we can consider going long. With about 25% organized market share, Polycab leads the domestic C&W market. The company is present in both cables (65% of the sales mix) and wires (25-30% of the mix).However, Jefferies feels that the stock will not face major headwinds as it already has an established presence and the new competition will take time to impact the revenues. This has led to a double bottom formation and a gradual ascent to the top . With prices holding firm at the TS line we can consider going long. Key metrics P/E: 45.90 52-week high: ₹ 7,607.15 Volume: 319.43K Technical analysis: Support at ₹ 4,950; resistance at ₹ 6,950 Support at 4,950; resistance at 6,950 Risk factors: Market volatility and sector-wide fluctuations in geopolitical news could impact returns Market volatility and sector-wide fluctuations in geopolitical news could impact returns Buy at: CMP and dips to ₹ 6,000 CMP and dips to 6,000 Target price: ₹ 6,525-6,700 in 1 month 6,525-6,700 in 1 month Stop-loss: ₹ 5,950 BORORENEW: Buy CMP and dips to ₹ 542 | Stop: ₹ 525 | Target: ₹ 615-630 Why BORORENEW is recommended: BORORENEW posted weak Q4 numbers, indicating that the trends are under pressure. However, with the nature of the prices seen in the last few days we can comprehend that the newsflow has already been priced in. The volatile moves seen in the last 3 months are now seen giving up, indicating a possibility of some upward bounce as a V-U pattern is seen forming with volumes. Can look to go long. BORORENEW posted weak Q4 numbers, indicating that the trends are under pressure. However, with the nature of the prices seen in the last few days we can comprehend that the newsflow has already been priced in. The volatile moves seen in the last 3 months are now seen giving up, indicating a possibility of some upward bounce as a V-U pattern is seen forming with volumes. Can look to go long. Key metrics P/E: 225.05 52-week high: ₹ 644 Volume: 540.20K Technical analysis: Support at ₹ 460; resistance at ₹ 680 Support at 460; resistance at 680 Risk factors: Competition from streaming platforms and changing consumer preferences Competition from streaming platforms and changing consumer preferences Buy at: CMP and dips to ₹ 542 CMP and dips to 542 Target price: ₹ 615-630 in 1 month 615-630 in 1 month Stop-loss: ₹ 525 DALBHARAT: Buy above ₹ 2,120 and dips to ₹ 2,090 | Stop: ₹ 2,070 | Target: ₹ 2,250-2,325 Why DALBHARAT is recommended: The counter has been consolidating around the TS & KS Bands for the past few days. After a brief decline the stocks managed to gather support within the bands and produce a turnaround. After the recent test of the TS & KS bands and a strong closing on Friday we can look at some positive vibes to emerge. The counter has been consolidating around the TS & KS Bands for the past few days. After a brief decline the stocks managed to gather support within the bands and produce a turnaround. After the recent test of the TS & KS bands and a strong closing on Friday we can look at some positive vibes to emerge. Key metrics P/E: 208.50 52-week high: ₹ 2,166.70 Volume: 105.72K Technical analysis: Support at ₹ 2,050; resistance at ₹ 2,250 Support at 2,050; resistance at 2,250 Risk factors: Supplier retention and potential customer acquisition challenges Supplier retention and potential customer acquisition challenges Buy at: Above ₹ 2,120 and dips to ₹ 2,090 Above 2,120 and dips to 2,090 Target price: ₹ 2,250-2,325 in 1 month 2,250-2,325 in 1 month Stop-loss: ₹ 2,070 Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
37 minutes ago
- Mint
Best stock recommendations today: MarketSmith India's top picks for 9 June
On Friday, the Nifty 50 surged 1.02% to close above 25,000, driven by the RBI's unexpected 50-basis-point repo rate cut and a 100bps CRR reduction, aimed at boosting liquidity and economic growth. This aggressive monetary easing lifted investor sentiment and triggered strong buying, especially in rate-sensitive sectors like realty, financials, autos, and metals. The RBI's shift to a neutral stance further supported the rally, resulting in broad-based market participation. Two stock recommendations for today, 9 June, by MarketSmith India: KEI Industries Ltd (current price: 3747.8) Why it's recommended: Strong market position, diversified revenue streams, strong product portfolio, and innovation Key metrics: P/E: 49.96 | 52-week high: ₹5,039.70 | Volume: ₹158.97 crore Technical analysis: Reclaimed 200 EMA Risk factors: Raw material price fluctuations, competitive pressure Buy at: ₹3,747.8 Target price: ₹4,290 in three months Stop loss: ₹3,490 Also Read: United Spirits is on a high after RCB's IPL win, JP Morgan upgrade and UK FTA. Can it keep buzzing? Bajaj Housing Finance (current price: ₹125.66) Why it's recommended: Strong market position, strong financial performance Key metrics: P/E: 174.44, 52-week high: ₹ 188.50, volume: ₹ 262.89 crore Technical analysis: Reclaimed 100-EMA Risk factors: Interest rate risk, regulatory risks, macro-economic risks Buy at: ₹125.66 Target price: ₹150 in three months Stop loss: ₹115 Nifty 50: How the benchmark index performed on 6 June On Friday, the Nifty 50 opened on a subdued note and witnessed volatility during the initial hour of trade. However, sentiment improved significantly following the RBI policy announcement, propelling the index past 25,000 intraday. The day's price action resulted in the formation of a strong bullish candlestick on the daily chart, with the index closing near the session's high. All major sectoral and broader market indices ended in positive territory. Notably, Nifty Realty, Metal, Banking & Financials, and Auto sectors outperformed, while Pharma, Energy, and FMCG lagged. The broader market participation remained robust, with the advance-decline ratio improving to 4:3, reflecting a healthy market breadth. From a technical perspective, the Nifty 50 is now trading above all its key moving averages across multiple timeframes, indicating underlying strength. The relative strength index (RSI) has turned upward and is currently hovering near 60, reflecting improving momentum. However, the MACD continues to display a negative crossover and has yet to confirm a sustained bullish trend. On a positional basis, a golden crossover, where the 50-DMA crosses above the 200-DMA, has occurred on the daily chart, signalling a potential resurgence of medium- to long-term bullish momentum. Also Read: Can this microfinance lender lead the industry's turnaround in FY26? As per O'Neil's methodology of market direction, the market status has been downgraded to "Uptrend Under Pressure" from 'Confirmed Uptrend" on 4 June. The Nifty 50 ended the session around 25,000 with a positive bias. However, for the index to exhibit further bullish strength, a sustained breakout and close above 25,200 is essential. Post-RBI policy announcement, overall market sentiment has turned positive, thereby increasing the likelihood of a near-term breakout. A decisive move above 25,200 could accelerate the upward momentum, potentially driving the index toward 25,700–25,800 in the coming weeks. On the downside, immediate support is placed near 24,500. How did the Nifty Bank perform yesterday? On Friday, the Nifty Bank decisively broke above 56,000, following the RBI policy announcement, after consolidating for five consecutive weeks. The index closed near the day's high in uncharted territory, registering a gain of 1.47% and forming a strong bullish candlestick on the daily chart. Additionally, a breakout above an ascending triangle pattern on the daily timeframe was observed, supported by robust price and volume action. On a weekly basis, the index advanced approximately 1.48% and formed a bullish candlestick, reinforcing the positive momentum. From a technical standpoint, the index is now trading above all its key moving averages across multiple timeframes, supported by strong positive momentum. The daily and weekly relative strength index (RSI) are trending upward, reflecting strengthening buying interest. Notably, the MACD has formed a positive crossover on the weekly chart, reinforcing the bullish trend. However, on the daily timeframe, the MACD continues to exhibit a negative crossover and would need to turn positive to confirm short-term strength. Additionally, the ADX/DMI indicator on the weekly chart also signals a firm bullish trend, further validating the upward bias. According to O'Neil's methodology market direction, the Nifty Bank has recently transitioned from an 'Uptrend Under Pressure" to a more constructive phase of a 'Confirmed Uptrend," highlighting renewed strength and resilience in the broader trend. Also Read: Russia-Ukraine war escalation: Impact on the Indian stock market The index is currently trading with a positive bias across multiple timeframes and is now navigating uncharted territory. As long as it remains above 56,000, the overall outlook remains positive. The recent breakout indicates potential for the index to advance toward 58,500–59,000 in the near term. Conversely, a breach below 56,000 could lead to a phase of sideways consolidation. Notably, the RBI's recent policy measures have had a significant positive impact on the sector, and it is likely to remain buoyant in the coming weeks. MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. It offers tools and resources to help investors make informed decisions based on the CAN SLIM methodology, developed by legendary investor William J. O'Neil. You can access a 10-day free trial by registering on its website. Trade name: William O'Neil India Pvt. Ltd. Sebi Registration No.: INH000015543 Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
38 minutes ago
- Economic Times
Telecom, services draw big FPI flows; IT faces selloff in late May
Agencies Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mumbai: Telecom, services, capital goods and consumer goods were the top recipients of the foreign fund flows in the second-half of May, according to data from NSDL. Traditional heavyweights like banks and information technology sectors saw outflows in this period, when overseas fund managers resumed purchases of Indian equities after a stocks received the highest inflow at ₹7,052 crore in the second-half of the month after Singapore's Singtel sold Bharti Airtel shares worth ₹12,880 crore in a bulk deal on May 16."Most of the foreign inflows in the telecom sector can be attributed to the deal," said UR Bhat, co-founder & director, Alphaniti. "The reduced competition with Vodafone Idea languishing, is also expected to benefit the other two players."In the second-half of the month, the fast moving consumer goods (FMCG) sector witnessed foreign inflows worth ₹1,872 crore after outflows worth ₹1,057 crore in the first-half of May."Investors have possibly realised that the earlier sell-off in services and FMCG sectors was probably not warranted, as there has since been a pickup in rural demand," said Bhat. "This led foreign investors to realign their information technology sector witnessed the highest outflows worth ₹2,725 crore, after inflows worth ₹289 crore in the Sharma, fund manager at Green Portfolio PMS, said that the business outlook for IT sector is impacted by geo-political realignment and the concerns in the US economy.'There is a portfolio churn, and overseas investors are exiting sectors where valuations are expensive,' said Sharma. 'However, they are shying away from making aggressive bets as the uncertainty surrounding the US-China trade war continues to linger.'Foreign investors offloaded shares worth Rs 2,008 crore in the healthcare sector in the last 15 days of the month and divested shares worth over Rs 1,500 crore in the power, consumer services and automobile sectors
