
The Indian equity market failed to build on its early gains and ended with little change in yet another volatile session, with the Nifty closing below the 25,500 mark.
After a gap-up start, the market traded in a narrow range through the day, with the Nifty slipping to an intraday low of 25,400 amid intermittent selling pressure. However, buying interest in PSU bank, healthcare, and auto stocks helped the indices recover from lower levels.
At close, the Sensex was down 27.46 points or 0.03 percent at 82,248.61, and the Nifty was up 14.05 points or 0.06 percent at 25,496.55. Nifty Midcap index rose 0.6%, while smallcap index ended flat.
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Bharat Electronics, Adani Ports, Sun Pharma, Bharti Airtel, Maruti Suzuki were among major gainers on the Sensex, while losers were Power Grid Corporation, Trent, Bajaj Finserv, HDFC Bank and Eternal.
Among sectors, auto, pharma, oil & gas, PSU Bank, telecom, metal added 0.4-1%, while media index shed 0.7%.
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In stock specific action, XTGlobal shares rose 20% on securing Al enablement project from US State transportation agencyre, Balu Forge shares added 10% on MoU for supply of large caliber ammunition, Foseco India shares fell 2% after consolidated profit slips 35%, Sanofi Consumer Healthcare India share price added 5% on better Q4 earnings.
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 76,034.42 | -829.29 | -1.08% |
| Nifty 50 | 23,639.15 | -227.70 | -0.95% |
| Nifty Bank | 55,100.95 | -634.80 | -1.14% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Coal India | 470.10 | 23.35 | +5.23% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| M&M | 3,031.20 | -137.00 | -4.32% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Energy | 36834.35 | 695.85 | +1.93% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Auto | 25098.00 | -828.00 | -3.19% |
KSB share price surged 9% after profit rises 10%, Sanofi India shares declined 3% as Q4 profit falls 32%, Home First Finance Company share price fell 5% post 56.2 lakh shares (5.4% equity) traded in a block, Diamond Power shares rose 3% on EPC order win worth Rs 93 crore from KPI Green.
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More than 100 stocks touched their 52-week high, including GE Vernova TD, Lupin, Schaeffler Industries, Bank of Baroda, Shriram Finance, JB Chemicals, Hitachi Energy, Torrent Pharma, KEI Industries, Graphite India, Polycab, Federal Bank, Union Bank, TVS Motor, Bank of Maharashtra, Cummins, Indian Bank, Bajaj Auto, IOC, Canara Bank, among others. Click to View More
More than 320 stocks touched their 52-week low, including Reliance Power, Swan Corp, AWL Agri, IRFC, BASF, Alkyl Amines, Cyient, among others. Click to View More
Outlook for February 27
Rupak De, Senior Technical Analyst at LKP Securities
The Nifty 50 witnessed another day of lackluster trading, as the index continued to remain confined within a narrow range before closing flat.
On the daily chart, the index has been consistently failing to reclaim the 21-EMA, exhibiting an overall lack of strength.
The RSI is in a bearish crossover, indicating weakening momentum.
The sentiment is likely to remain weak in the near term, with a possibility of falling towards 25,300. On the higher end, resistance is placed at 25,550–25,600.
Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities
On Thursday, the benchmark index Nifty traded within a narrow intraday band of 172 points, reflecting a day dominated by subdued volatility and cautious sentiment. For most of the session, the index hovered close to the day’s low, indicating persistent pressure from the bears. However, during the final hour of trade, Nifty experienced a modest recovery, staging a mild pullback from lower levels. By the closing bell, the index ended virtually unchanged, forming a small-bodied candle with a pronounced lower shadow, suggesting buying interest emerging near support zones.
Going ahead, for Nifty, the 50-day EMA zone of 25630-25660 will act as an immediate hurdle for the index. Any sustainable move above 25660 will lead to a sharp upside rally upto the 25800 level. On the downside, the zone of 25380-25350 will act as crucial support for the index.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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