Stock market today: On Friday, 119 stocks hit their 52-week high, including Abbott India Ltd, APL Apollo Tubes Ltd, AU Small Finance Bank Ltd, Bajaj Holdings & Investment Ltd, Bharat Electronics Ltd, HDFC Asset Management Company Ltd, HDFC Bank Ltd, Muthoot Finance Ltd, SBI Cards and Payment Services Ltd, Solar Industries India Ltd, and SRF Ltd.

In contrast, 36 stocks touched 52-week lows, with notable mentions like Protean eGov Technologies Ltd, Axita Cotton Ltd, Naksh Precious Metals Ltd, and Uma Exports Ltd.

Markets closed the week on a strong note, posting gains of nearly 1% thanks to favorable domestic cues. Initially, investor sentiment was cautious ahead of the Monetary Policy Committee’s (MPC) monetary policy review. However, the mood shifted positively following the unexpected announcement of a 50-basis points cut in the repo rate, coupled with a staggered reduction of 100 basis points in the Cash Reserve Ratio (CRR). This news sparked a significant upward movement in the markets, which then entered a range-bound phase for the remainder of the session.

By the end of the trading day, the Nifty 50 and Sensex both rose approximately 1%, closing at 25,003.05 and 82,188.99, respectively. Notably, this marked the benchmarks’ first weekly gain after two consecutive weeks of decline.

Vinod Nair, the Head of Research at Geojit Investments, stated that the Indian stock market reacted positively to the RBI’s unexpected and aggressive policy aimed at promoting growth. The significant reduction in interest rates and the liquidity increase through the CRR cut are anticipated to enable quick passing on of lower rates, highlighting the RBI’s firm commitment to encouraging economic development, enhancing investment, and stimulating consumption.

The RBI’s neutral position has tempered expectations for future interest rate reductions, and concerns remain regarding the current weak demand, as indicated by the unchanged GDP growth projection for FY26. 

Nifty 50 Outlook 

According to Rupak De, Senior Technical Analyst at LKP Securities, the stock index has moved up sharply following a bazooka policy move by the RBI. It closed above the 25,000 mark after several sessions, indicating a surge in optimism among market participants. 

Typically, a rally followed by consolidation often results in an upward breakout, and this time too, we expect Nifty 50 to break out above the recent consolidation range. On the higher side, resistance is placed at 25,150. A move above this level — or even a sustained close above 25,000 — could set the stage for the index to rally towards 25350. On the downside, support is placed at 24,850. A breach below this level may weaken the current rally and trigger some profit booking

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