Stock market today: Tata Motors to Coal India — 907 BSE-listed shares hit 52-week low. Do you own any?

Stock market today: As many as 907 stocks, including Tata Motors, Adani Green Energy, AU Small Finance Bank, Coal India, Hero MotoCorp, Power Grid Corporation of India, Indian Oil Corporation, Jio Financial Services, NTPC, and Tata Power Company, hit their 52-week lows in intraday trade on BSE on Monday, February 17, as the market faced a decline across various segments.

Bank of Baroda, Canara Bank, Colgate-Palmolive, DLF, Oil and Natural Gas Corporation (ONGC), Punjab National Bank, Tube Investments of India, REC, and State Bank of India were also among the stocks that reached their lowest levels in a year.

After experiencing a decline for eight consecutive sessions and enduring a turbulent trading day, the Sensex finished flat at 75,996.86. The Nifty 50 closed 0.13% higher at 22,959.50.

In the 30-share pack, 10 stocks ended in the negative territory, with shares of Mahindra and Mahindra, Bharti Airtel, Tata Consultancy Services (TCS) and Infosys as the top losers, falling 1-4%. Among the leading 20 stocks that closed positively were Bajaj Finserv, Power Grid Corporation of India, Indusind Bank, and Adani Ports and Special Economic Zone, which saw gains of 1-2%.

The main stock indices, Nifty 50 and Sensex, ended Monday nearly unchanged after eight consecutive days of declines, as increases in major stocks like HDFC Bank and Reliance Industries balanced out the impact of lackluster corporate earnings and uncertainties in global trade. On Friday, both indices experienced their longest streak of losses in two years.

During Monday’s trading session, they fell by 0.8% each before recovering in the last hour. The volatility index rose for the sixth consecutive session, closing at 15.72, its highest level in two weeks.

Vinod Nair, the Head of Research at Geojit Financial Services, mentioned that the modest growth in earnings for Q3 FY25, along with ongoing selling by foreign institutional investors, is restricting the chances for a market recovery in the short term. A declining rupee and an expanding trade deficit are expected to increase investor caution.

Although broader indices have experienced a significant downturn, current valuations still appear unattractive. Nonetheless, a reduction in US trade uncertainties and early indications of a rebound in discretionary spending could bolster a market recovery.

Nifty 50 outlook

According to Rupak De, Senior Technical Analyst at LKP Securities, the index closed significantly higher from the day’s low, driven by buying interest at the lower end of the range. However, sentiment remains weak as it failed to reclaim the key Fibonacci retracement level. Additionally, the index continues to trade below critical moving averages, reinforcing the overall bearish undertone.

In the short term, the index is likely to remain a sell-on-rise candidate unless it decisively crosses above 23,150 on a closing or sustained basis. On the downside, support is placed at 22,800.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.