Stock market today: On Thursday, 131 stocks hit their 52-week high, including Bosch Ltd, Coromandel International Ltd, EID Parry India Ltd, Fortis Healthcare Ltd, HEG Ltd, ICICI Bank Ltd, Maharashtra Scooters Ltd, Navin Fluorine International Ltd, Nuvoco Vistas Corporation Ltd, The Ramco Cements Ltd, Schneider Electric Infrastructure Ltd, Shyam Metalics and Energy Ltd, and Sumitomo Chemical India Ltd.
In contrast, 91 stocks touched 52-week lows, with notable mentions like Five-Star Business Finance Ltd, Tata Consultancy Services Ltd (TCS), Easy Trip Planners Ltd, Five-Star Business Finance Ltd, Spicejet Ltd, and PDS Ltd.
Indian benchmark stock indices reduced their losses on Thursday, bouncing back from an initial sharp decline, as investors interpreted the U.S. tariff threats as a negotiating tactic and anticipated lower rates once discussions are finalized.
The Nifty 50 decreased by 0.35% to 24,768.35 points, while the BSE Sensex dropped 0.36% to 81,185.58.
The indices dipped nearly 1% during morning trading after U.S. President Donald Trump revealed 25% tariffs on India, along with an undisclosed penalty, effective August 1, and noted that the U.S. is still in trade negotiations with the Asian nation.
Vinod Nair, the Head of Research at Geojit Investments, mentioned that after a rocky start fueled by new tariff concerns, the Indian market opened with a negative sentiment. Nevertheless, the domestic market made a strong effort to recover, but ultimately closed with slight losses by the end of the day, coinciding with a monthly expiry.
Investors showed interest in domestically focused, non-discretionary companies, particularly in the FMCG sector, as they presented appealing valuations, positive demand forecasts, and a degree of protection from tariff challenges, according to Nair.
Nifty 50 Outlook
According to Rupak De, Senior Technical Analyst at LKP Securities, the index recovered smartly after a gap-down opening, rising above 24,900. However, the Nifty 50 failed to sustain at higher levels. The index continues to trade below the 50 EMA, confirming a bearish trend. The RSI is in a bearish crossover. Despite several negative setups, a hidden positive divergence has been observed over the past 2–3 days, indicating a potential bullish reversal.
“This setup may play out well if the Nifty 50 decisively moves above 25,000. On the lower side, support is placed at 24,600. A range-bound movement is expected until the Nifty 50 breaks out of the 24,600–25,000 range,” said De.
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