Stock Market Today: The Indian stock market witnessed a strong uptrend on Thursday, with the benchmark indices climbing steadily on the back of positive sentiment around an anticipated interest rate cut by the Reserve Bank of India (RBI). Investor optimism was evident across sectors, especially financials, real estate, and select mid- and small-cap counters.
The Nifty 50 rose 0.53% to close at 24,750.90, while the Sensex advanced by 0.55% to end the session at 81,442.04. Meanwhile, the broader market outperformed, with the Nifty Midcap index gaining 0.7% and the Nifty Smallcap surging 1%.
109 Stocks Hit 52-Week Highs
A remarkable 109 listed stocks touched their 52-week highs during Thursday’s trade. Notable names in this elite club included:
- Bharat Electronics Ltd (BEL)
- SRF Ltd
- APL Apollo Tubes Ltd
- GlaxoSmithKline Pharmaceuticals Ltd
- Solar Industries India Ltd
- Authum Investment & Infrastructure Ltd
- Anupam Rasayan India Ltd
- Fortis Healthcare Ltd
- Garden Reach Shipbuilders & Engineers Ltd
- Intellect Design Arena Ltd
- Lloyds Metals and Energy Ltd
- Multi Commodity Exchange of India Ltd (MCX)
- Hitachi Energy India Ltd
- Welspun Corp Ltd
These gains reflect strong earnings momentum and sustained investor interest in key sectors, including defense, pharmaceuticals, healthcare, and specialty chemicals.
Meanwhile, 36 Stocks Touch 52-Week Lows
On the other hand, 36 stocks sank to their lowest point in a year. Among the more notable were:
- Bartronics India Ltd
- Axita Cotton Ltd
- Lasa Supergenerics Ltd
- Uma Exports Ltd
- Wendt (India) Ltd
The divergence between 52-week highs and lows showcases the current polarized nature of market performance, with select themes outperforming while others lag behind.
What’s Driving the Market?
The key driver on Thursday was investor expectation that the RBI will announce another 25 basis point rate cut in its policy meeting scheduled for Friday. If confirmed, this would mark the third consecutive rate reduction, aimed at sustaining economic growth amid softening inflation.
Nair added that global cues remain mixed, but sentiment is cautiously optimistic as major central banks, including the European Central Bank (ECB), are also expected to cut rates.
De further noted that on the 2-hour chart, the Relative Strength Index (RSI) has formed a positive crossover, hinting at building bullish momentum.
Market participants will closely monitor the RBI’s monetary policy announcement on Friday. Any indication of dovish commentary or a more aggressive rate cut could boost equities further, especially rate-sensitive sectors like banking, real estate, and autos.
The global market setup is also turning favorable, with central banks signaling an accommodative stance and crude oil prices stabilizing. However, geopolitical developments and US inflation data remain key watch points.
For now, Indian equities seem poised for a short-term uptrend, backed by technical indicators, improving FII sentiment, and expectations of policy support.
With more than 100 stocks clocking fresh 52-week highs and major indices nearing record levels, the Indian market is once again showing signs of bullish momentum. However, caution is advised at higher valuations, especially ahead of critical central bank decisions. Traders and investors alike are advised to stay selective, focus on strong earnings performers, and watch technical levels like 24,500 on the Nifty for short-term direction.
