Stock Market Update: 108 Stocks Hit 52-Week Highs, 37 at Lows Amid Market Consolidation
On Tuesday, 108 stocks hit 52-week highs, while 37 stocks fell to 52-week lows. The market remains cautious due to foreign capital outflows, geopolitical tensions, and high US Treasury yields. Real estate stocks, however, are thriving.
Stock Market52week Highs52week LowsMarket ConsolidationReal Estate StocksReal Estate NewsJun 03, 2025
In contrast, 48 stocks touched 52-week lows, with notable mentions like Jai Balaji Industries Ltd, AIK Pipes and Polymers Ltd, Sri Havisha Hospitality And Infrastructure Ltd, Diksat Transworld Ltd, Filtra Consultants and Engineers Ltd, Manoj Jewellers Ltd, and Resgen Ltd. The decline in these stocks is attributed to a combination of company-specific issues and broader market concerns.
Financial and IT sectors pulled down the Indian stock markets on Tuesday due to concerns over foreign capital outflows amidst high US Treasury yields and uncertainty in trade. The Adani group shares also decreased following a Wall Street Journal article regarding a US investigation into Iranian LPG imports. The Nifty 50 declined by 0.70% to reach 24,542.5, while the Sensex dropped by 0.78% to settle at 80,737.51.
Vinod Nair, the Head of Research at Geojit Investments, stated that the domestic market has remained in negative territory due to mixed signals from the global market, ongoing geopolitical tensions, and fluctuations in the currency market influenced by a weak USD. Profit-taking is noticeable across various sectors, with the exception of real estate stocks, which are benefiting from expectations of an interest rate reduction by the RBI.
Mid- and small-cap stocks are experiencing less consolidation compared to large-cap stocks, attributed to stronger earnings growth and a reduction in premium valuations. Although short-term consolidation is expected to continue, robust domestic-oriented companies are projected to outperform amid external market volatility.
Nifty 50 outlook:
According to Rupak De, Senior Technical Analyst at LKP Securities, Nifty 50 has extended its consolidation phase for yet another day, showing no urgency in establishing a clear directional trend. It appears that investors are awaiting a decisive commentary following the RBI's interest rate decision.
“Technically, very short-term support is placed at 24,500. A fall below this level may trigger an increase in short positions, potentially leading to a swift decline towards 24,000. On the other hand, if the Nifty 50 holds above 24,500, it could see a recovery towards the 24,700–24,750 zone in the near term,” said De.
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.
Frequently Asked Questions
What factors are causing the decline in the stock market?
The decline in the stock market is primarily due to concerns over foreign capital outflows, high US Treasury yields, and geopolitical tensions. Financial and IT sectors have been particularly affected.
Which sectors are performing well despite the market downturn?
Real estate stocks are performing well, driven by expectations of an interest rate reduction by the RBI. Mid- and small-cap stocks are also showing resilience due to strong earnings growth and reduced premium valuations.
What is the current status of the Nifty 50 and Sensex?
The Nifty 50 has declined by 0.70% to 24,542.5, while the Sensex has dropped by 0.78% to 80,737.51. The market is currently in a consolidation phase.
What is the outlook for the Nifty 50 in the short term?
According to Rupak De, a Senior Technical Analyst at LKP Securities, the Nifty 50 is expected to consolidate around 24,500. A fall below this level could lead to further declines, while holding above it could see a recovery towards 24,700–24,750.
What advice do analysts have for investors?
Analysts advise investors to be cautious and await further commentary, particularly from the RBI's interest rate decision. It is recommended to consult with certified experts before making any investment decisions.
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