Stock market today: On Wednesday, 144 stocks hit their 52-week high, including Anand Rathi Wealth Ltd, Bosch Ltd, Coromandel International Ltd, EID Parry India Ltd, HDFC Asset Management Company Ltd, HDFC Bank Ltd, Laurus Labs Ltd, Maharashtra Scooters Ltd, Navin Fluorine International Ltd, Nuvoco Vistas Corporation Ltd, Piramal Enterprises Ltd, Hitachi Energy India Ltd, The Ramco Cements Ltd, Sai Life Sciences Ltd, Schneider Electric Infrastructure Ltd, Shyam Metalics and Energy Ltd, Sumitomo Chemical India Ltd, and Torrent Pharmaceuticals Ltd.
In contrast, 66 stocks touched 52-week lows, with notable mentions like Easy Trip Planners Ltd, NIIT Learning Systems Ltd, Kalpataru Ltd, S.A.L. Steel Ltd, Shalimar Paints Ltd, and Venkys (India) Ltd.
India’s stock indices closed relatively stable on Wednesday, as the rise in Larsen & Toubro driven by positive earnings countered investor hesitation prior to the U.S. Federal Reserve’s policy announcement and an impending US tariff deadline.
The Nifty 50 increased by 0.14% to reach 24,855.05 points, while the BSE Sensex rose by 0.18% to hit 81,481.86.
Of the 16 primary sectors, nine saw gains. Infrastructure giant Larsen & Toubro surged around 5%, becoming the top percentage winner on the Nifty 50, following a 30% increase in first-quarter profit that exceeded expectations.
US President Donald Trump stated on Wednesday that a trade agreement with India has yet to be finalized and cautioned about potential higher tariffs in light of the August 1 deadline for reaching an accord.
Investors are also anticipating the Fed’s policy announcement later today. The US central bank is likely to maintain interest rates, but attention will be on Chair Jerome Powell’s insights regarding the economic and inflation outlook amidst a prolonged wait for potential rate reductions.
“The domestic market ended the session marginally positive after a range-bound trade, despite ongoing uncertainty around the delayed India-US trade agreement and mixed earnings.
The investors turned more stock/sector specific based on the Q1 results; the industrial segment gained momentum after robust earnings from L&T. The auto sector underperformed, largely due to tariff-related pressures. Investors are now focusing on the US Fed’s policy meeting, as its stance on rates and inflation could shape global sentiment,” said Vinod Nair, Head of Research, Geojit Investments Limited.
Nifty 50 outlook
According to Rupak De, Senior Technical Analyst at LKP Securities, the Nifty 50 traded within a narrow range, remaining below the 50 EMA on the daily timeframe. The short-term trend remains slightly weak as the index continues to sustain below this critical moving average.
However, the possibility of a meaningful recovery stays intact, supported by a bullish reversal pattern formation and a hidden positive divergence. In simple terms, the index may continue to move up towards 25,000-25,200 in the short term, with support placed at 24,750. A break below this level could weaken market sentiment.