HDFC Bank, Airtel to Sun Pharma: March rally propels 7 Nifty 50 stocks to near 1-year highs. Do you own any? | Stock Market News

Stock market today: Indian markets continued their stellar run for the sixth consecutive trading session on Monday, March 24, with Nifty 50 and Sensex surging another 1% each at the day’s highs, building on last week’s strong momentum.

Positive domestic macroeconomic factors and easing concerns over valuations, especially in large-cap stocks, have brought optimism to the market, attracting investors back into equities and driving a strong recovery in beaten-down stocks. After a prolonged decline since October, markets have finally stabilised, allowing bulls to take charge. This push has helped frontline indices reclaim crucial levels, with last week marking their best weekly performance in four years.

Both Nifty 50 and Sensex have gained over 6% so far this month, marking their biggest monthly gain since June. If the momentum continues until the end of March, it could help the indices break their five-month losing streak.

Moreover, the extended sell-off on Dalal Street pushed stocks into oversold territory, drawing renewed investor interest. As large-cap valuations realign with fundamentals, improving sentiment and liquidity measures from the Indian central bank are encouraging stock market bulls to return, particularly to financial stocks at lower levels.

Investor sentiment has also been lifted by expectations of a turnaround in corporate earnings in the March quarter and speculation that the RBI may announce a second repo rate cut at its MPC meeting on April 5, further fueling the market recovery.

On the global front, trade tensions appear to be easing, as the European Union has delayed countermeasures on U.S. products until mid-April, giving extra time for discussions.

Additionally, reports suggest that the next round of President Donald Trump’s trade tariffs may be more measured than previously expected. Trump indicated flexibility on tariffs, stating that his top trade chief plans to engage in discussions with his Chinese counterpart next week.

The president also reiterated his plan to use duties to narrow the U.S. trade deficit with China, according to Reuters. Global markets have remained under pressure in recent weeks, as uncertainty surrounding the timing and scale of tariffs continues to cloud the outlook for corporate profits and the Federal Reserve’s monetary policy path.

7 Nifty 50 stocks near 52-week highs as market recovery gains strength

Amid a sharp market recovery, seven Nifty 50 stocks have moved closer to their 52-week highs, as per the Trendlyne data. Banking stocks, including ICICI Bank and HDFC Bank, are now trading up to 6.19% away from their 52-week highs, which they last achieved in September and December, respectively.

Telecom major Bharti Airtel, which is trading at ₹1,725 per share, is 3.08% away from touching its September 2024 peak of ₹1,780. Likewise, Bajaj Finserv is 8.32% away from reaching new 52-week highs.

Other stocks, including Eicher Motors, Shriram Finance, and Sun Pharmaceutical, are also trading closer to their recent peaks.

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.