Closing Bell: Sensex, Nifty flat amid volatility; IT, pharma drag, metal, realty shine

Market Close | Sensex, Nifty end flat amid volatility

Indian benchmark indices ended marginally lower in the volatile session on February 19. At close, the Sensex was down 28.21 points or 0.04 percent at 75,939.18, and the Nifty was down 12.40 points or 0.05 percent at 22,932.90.

Ajit Mishra – SVP, Research, Religare Broking

Markets remained volatile and ended nearly unchanged, extending the prevailing consolidation phase. After an initial dip, Nifty staged a swift recovery in the early hours but struggled to sustain gains due to a lack of follow-up buying and pressure on select heavyweight stocks. It remained range-bound for the rest of the session, eventually closing at 22,932.

Sectoral trends were mixed, keeping traders engaged—realty, metal, and energy outperformed, while IT and pharma lagged. The highlight of the session was the rebound in broader indices, which gained between 1.5% and 2.3%.

The ongoing indecisiveness in the index is keeping participants on edge, and this volatility may persist on Thursday. We maintain our view of adopting a stock-specific approach, focusing on resilient sectors and themes, particularly those holding strong even during market downturns, and accumulating them gradually. Additionally, traders should avoid reading too much into the single-day rebound in midcap and smallcap stocks and wait for a clearer recovery signal before taking fresh positions.

Rupak De, Senior Technical Analyst at LKP Securities

The Nifty has moved within a band, keeping the volatile vibe intact. On the lower end, 22,800 is likely to remain crucial support. Until 22,800 is broken, we do not expect a significant fall in the market. A decisive fall below 22,800 might trigger a meaningful correction. However, until that happens, we believe the market is likely to remain range-bound. On the higher end, 23,000/23,150 might act as resistance for Nifty. A decisive breakout above 23,150 could induce a significant rally in the market.

Vinod Nair, Head of Research, Geojit Financial Services

The national benchmarks exhibited a range-bound performance with a slight downward bias, though selective buying in the broader market was evident, driven by bargain hunting in beaten-down stocks. A reversal in FII flows also influenced market dynamics; however, the durability of this trend remains uncertain. Despite concerns over potential US tariff impositions and delays in anticipated interest rate cuts, market sentiment remains optimistic about a rebound in India’s Q3 GDP growth. This optimism is further bolstered by expectations of a recovery in government expenditure. At this juncture, large-cap stocks present a more attractive risk-reward proposition, given their fair valuations.

Prashanth Tapse, Senior VP (Research), Mehta Equities

While markets ended flat with a slightly negative bias due to selling in IT stocks, broader markets witnessed a lot of optimism as mid & small-cap stocks rallied after the recent selloff.

Despite the uncertainty over rising FII selling, falling rupee, and the ongoing tariff war, the recently beaten sectoral stocks from banking, automobile, telecom, metals attracted significant buying interest.

Aditya Gaggar Director of Progressive Shares

The market showed signs of recovery and engaged in rangebound trading throughout the session. It began with a subdued opening due to concerns over a tariff-related trade war. However, the Index progressed towards the north before encountering resistance around the 23,050 level, leading to a reversal. The market oscillated between gains and losses for the remainder of the session, ultimately closing at 22,932.90 with a marginal loss of 12.40 points.

Realty and Media were the performers, while IT saw a decline of over 1%, followed by Pharma. A notable highlight was the sharp recovery and sustained gains in the Mid and Smallcap segments. Nothing has changed for Nifty50 as it remained within its established range of 22,800 to 23,100, signaling that the market is waiting for a breakout on either sides to determine its next directional move.

Market Close | Sensex, Nifty flat amid volatility; IT, pharma drag, metal, realty shine

Indian benchmark indices ended marginally lower in the volatile session on February 19.

At close, the Sensex was down 28.21 points or 0.04 percent at 75,939.18, and the Nifty was down 12.40 points or 0.05 percent at 22,932.90. About 2724 shares advanced, 1079 shares declined, and 107 shares unchanged.

Dr Reddy's Labs, TCS, HUL, Infosys, Adani Enterprises were among major losers on the Nifty, while gainers were Bharat Electronics, Hindalco, L&T, Axis Bank, Eicher Motors.

BSE Midcap index was up 1.3 percent and Smallcap index added 2.4 percent.

Among sectors, IT index shed 1.3 percent and pharma index down 0.7 percent, while media, energy, metal, PSU bank, realty, capital goods rose 1-2 percent.

Sensex Today | JBM Auto arm JBM EcoLife Mobility gets order for 1,021 Electric Buses worth Rs 5,500 crore

Sensex Today | BSE Metal index up 1.4%; APL Apollo, Nalco, NMDC among major gainers

Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan

Surge in crude oil prices over the past few sessions weighed on the Rupee. We expect Rupee to trade with negative on the back of weak domestic markets and a bounce back in the US Dollar. Persistent FII outflows may also pressurise the domestic currency. However, any fresh intervention by the RBI may support the Rupee at lower levels.

Traders may take cues FOMC meeting minutes and housing data from the US. USDINR spot price is expected to trade in a range of Rs 86.75 to Rs 87.25.

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Markets@3 | Sensex, Nifty trade flat

The Sensex was down 30.03 points or 0.04 percent at 75,937.36, and the Nifty was down 18.85 points or 0.08 percent at 22,926.45. About 2625 shares advanced, 918 shares declined, and 83 shares unchanged.

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Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Mirae Asset Sharekhan

Spot gold ignored higher yields and a firmer Dollar to close with a hefty gain of 1.24% at $2935, the highest daily closing level ever. Disappointing US NAHB housing Index data, economic and political uncertainties due to tariffs and renowned investment banks recommending metal for higher targets in certain scenarios buoyed the metal.

Risk appetite is healthy as top US and Russian officials met in Riyadh, Saudi Arab, to initiate talks to bring Russia-Ukraine war to an end.

US NAHB Housing Market Index (February) fell from 47 in January to 42, a five-month low, and trailed the estimate of 46. Markets look forward to the January FOMC meeting minutes to be released tonight.

Gold is currently trading at $2939, up by $4 on the day.

Bulls are focusing on $3000 as the near-term target. Interim resistance is at $2945. Support is at $2900/$2875.

Buying into the dips is the preferred trade unless Dollar and yields surge uncomfortably higher.

Sensex Today | Nifty IT index sheds 1.5%; LTIMindtree, Infosys, TCS among major losers

Sensex Today | 2.22 million shares of NTPC traded in a block: Bloomberg

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Global Markets | European Markets trade mixed; DAX gains

The European stocks rally took a pause on Wednesday amid mixed earnings and after President Donald Trump’s latest tariff threats stoked concern about a widening trade war.

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Global Markets | Asian markets end mixed; Kospi up 1.6%, Nikkei, Hang Seng down

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This is to inform that a cyber security incident has occurred at the Company and it has impacted some of the IT assets which have been isolated. The incident has not impacted our core systems and operations. None of our customer operations and store operations have been affected and the same are up and running normally.

Stock Market LIVE Updates | Aurobindo Pharma gets 5 observations for Anakapalli facility

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Stock Market LIVE Updates | Vedanta get approval for demerger

Vedanta share price gained on third consecutive session

Markets@1 | Sensex, Nifty trade flat

The Sensex was up 49.87 points or 0.07 percent at 76,017.26, and the Nifty was up 0.15 points or 0.00 percent at 22,945.45. About 2657 shares advanced, 804 shares declined, and 107 shares unchanged.

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