Stock market today: Bajaj Finance, M&M, UPL among stocks that hit 52-week high on BSE | Stock Market News
Source: Live Mint
Stock market today: The Indian stock market benchmarks, Sensex and Nifty 50, made a notable recovery, each rising by over 1 per cent, on Tuesday, February 4.
This positive shift occurred despite ongoing worries regarding disappointing quarterly earnings, capital outflows from foreign investors, and uncertainties related to U.S. trade policies under President Donald Trump.
Bajaj Finance, Mahindra & Mahindra (M&M), UPL, SRF were among stocks that hit their 52-week highs on the Bombay Stock Exchange (BSE) on Tuesday, February 4.
Indian stock market today
The Sensex finished the day up by 1,397 points, equivalent to a 1.81 per cent increase, closing at 78,583.81. Meanwhile, the Nifty 50 rose by 378 points, or 1.62 per cent, ending at 23,739.25.
Year-to-date (YTD), the Sensex has increased approximately 0.5 per cent, while the Nifty 50 has seen a rise of about 0.40 per cent. Notably, this marks the first month of gains for the Nifty 50 since October of the previous year.
Vinod Nair, the Head of Research at Geojit Financial Services, credited the significant market surge to a positive shift in global market sentiment.
“Yesterday, the Indian market struggled to absorb the optimism generated by the good union budget due to heightened geopolitical risks stemming from ‘Trump tariff war’. However, India could outperform in a weak global market, and as a rebound has been triggered in the global sentiment, it has fuelled a sharp surge in domestic equities. While overall market sentiment remains positive, large-cap stocks are the preferred choice. Meanwhile, banking stocks are rallying in anticipation of a rate cut in this week’s RBI policy, the new governor’s first meet,” Nair added.
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