Indian Stock Market Ends Lower, Small and Midcap Shares Shine
India's domestic benchmark indices closed lower for the third consecutive session on Thursday, with selling pressure seen in the IT, pharma, and financial services sectors.
Mumbai: India’s domestic benchmark indices closed lower for the third consecutive session on Thursday, with selling pressure seen in the IT, pharma, and financial services sectors.
Table of Contents
Sensex Performance
The Sensex ended the day at 75,735.96, down by 203.22 points or 0.27 percent. The index touched an intra-day high of 75,794.15 but also fell to a low of 75,463.01 before closing.
Nifty Index Performance
The Nifty index ended almost unchanged at 22,913.15, slipping by 19.75 points or 0.09 percent. During the session, the broader index traded between 22,923.85 and 22,812.75.
According to experts, another day passed with Nifty remaining within a narrow range, failing to break past defined levels. Rupak De, Senior Technical Analyst at LKP Securities, mentioned that while broader market stocks showed a significant rise, the headline indices, Nifty and Bank Nifty, mostly remained range-bound. He added, “On the lower end, support is placed at 22,800 for Nifty, while resistance is at 23,150. A decisive breakout on either side could trigger a directional move in the market.”
Nifty Bank and Sector Performance
The Nifty Bank index ended at 49,334.55, down by 235.55 points or 0.48 percent. In contrast, the Nifty Midcap 100 index closed at 51,163.80, climbing by 636.55 points or 1.26 percent, while the Nifty Smallcap 100 index closed at 15,747.70, adding 221.80 points or 1.43 percent.
Among the sectors on the NSE, PSE, Auto, PSU Bank, Metal, Realty, Media, Energy, Infra, and Commodities showed positive movements. The Nifty PSE index was the top performer, rising by 2.15 percent during the session.
Also Read: Sensex, Nifty End Flat Amid Volatile Trade; Smallcap Stocks Outperform
Market Breadth
On the Bombay Stock Exchange (BSE), 2,699 shares ended in the green, while 1,273 shares closed in the red. There was no change in 111 shares.
Top Gainers and Losers
In the Sensex pack, the top losers included HDFC Bank, Maruti Suzuki, Tech Mahindra, HCL Tech, ITC, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance, Zomato, and Sun Pharma. On the other hand, NTPC, Adani Ports, M&M, Tata Steel, Tata Motors, IndusInd Bank, Power Grid, Infosys, and Axis Bank emerged as the top gainers.
Institutional Activity
On the institutional front, foreign institutional investors (FIIs) offloaded equities worth Rs 1,881.30 crore on February 19, while domestic institutional investors (DIIs) were net buyers, purchasing equities worth Rs 1,957.74 crore on the same day.
Currency Performance
The rupee traded higher, gaining 0.34 at 86.68, supported by weakness in crude prices and the dollar index trading below 107.
