Indian stock market today: Shares of Bharat Electronics, Grasim Industries, Maruti Suzuki India, HDFC Life Insurance, and Titan — all constituents of the Nifty 50 — are currently trading near their 52-week highs, as improved investor sentiment toward risky assets, driven by favorable domestic and global cues, has helped these stocks regain their previous momentum.
Notably, these stocks hit their one-year highs in the second half of 2024 but later faced a sharp decline amid valuation concerns and weak earnings. As sentiment has improved, these stocks are showing relative strength on Dalal Street.
According to Trendlyne data, Bharat Electronics’ share price touched a 52-week high of ₹340.50 in July 2024. It struggled until February before gaining momentum in March. In today’s trading, the stock surged 4% to ₹337, bringing it just 0.87% away from its 52-week high.
Likewise, HDFC Life Insurance, which had struggled after hitting its 52-week high of ₹761.20 apiece in September last year, is also approaching that mark. The stock is currently trading at ₹741, just 2.70% below its 52-week high.
| Stock Name | Current Trading Price | Previous 52-Week high | % Distance from 52-Week high |
|---|---|---|---|
| Bharat Electronics | ₹337 | ₹340 | 0.87% |
| HDFC Life Insurance Company | ₹741 | ₹761.20 | 2.70% |
| Grasim Industries | ₹2738 | ₹2877 | 5.10% |
| Titan Company | ₹3570 | ₹3867 | 8.32% |
| Maruti Suzuki India | ₹12540 | ₹13680 | 9.09% |
| Source: Trendlyne | |||
Grasim Industries, which ended three out of the following four months in the red after touching its 52-week high of ₹2,877 in October 2024, is now just 5.10% away from that level, currently trading at ₹2,738. Other stocks, such as Titan Company and Maruti Suzuki India, are currently up to 9% away from their respective 52-week highs.
Meanwhile, other index constituents like ICICI Bank and Bharti Airtel have touched new 52-week highs this month. Additionally, six others—Kotak Mahindra Bank, Eicher Motors, HDFC Bank, Bajaj Finance, Bajaj Finserv, and UltraTech Cement—had recorded their one-year highs in April.
In the previous trading session, both the Nifty 50 and Sensex gained nearly 4%, marking their biggest one-day rally in the last four years. The surge came as tensions between India and Pakistan, which had weighed on Dalal Street last week, subsided after both countries agreed to a ceasefire and initiated talks.
In addition, the US and China announced a trade deal, including a 90-day pause on tariffs and a drop in reciprocal tariffs by 115 percentage points, according to a joint statement released in Geneva. The latest development marks the first step towards de-escalation of trade tensions between the US and China following Donald Trump’s reciprocal tariff announcement on April 2, which boosted the market sentiment further.
However, experts don’t see the rally in the Indian stock market continuing, as the recent surge was not driven by FIIs and DIIs, but rather by retail investors and high-net-worth individuals.
Ceasefire-led surge may fade as institutional buying remains weak
Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said, “After the sharp surge in the market yesterday, mainly in response to the ceasefire, it is time to take stock and try to understand the likely direction of the market going forward. It is important to understand that the sharp 916-point surge in Nifty was not caused by institutional activity.”
The combined FII and DII buying yesterday was only ₹2694 crores. This means the market surge was triggered by short-covering and HNI plus retail buying. This implies that institutional activity is likely to remain subdued in the coming days, which may constrain the continuation of the rally.
“The agreement between the US and China to reduce tariffs for 90 days signals the possibility of the end of the trade war between the US and China. This augurs well for the global economy. Since the probability of a recession in the US has come down, Indian IT companies might benefit from the higher tech spending by US companies. Indian pharma exporters will face pricing pressure in the US from Trump’s executive order reducing drug prices. This will impact their stock prices,” he further said.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.