Taking Stock | Sensex up 142 points, Nifty ends around 17,900; Adani stocks tumble again

Indian benchmark indices ended a tad higher in a volatile session on February 9, with the 30-pack Sensex rising 142.43 points, or 0.23 percent, to 60,806.22 and the Nifty gaining 21.80 points, or 0.12 percent, to end at 17,893.50.

After a muted start, the indices remained range-bound, with selling seen in metal, power, realty, auto and pharma but buying in information technology and capital goods stocks helped trim the losses. The Sensex and the Nifty finished the session near the day’s high.

"Following the shaky closing of the US markets, domestic markets traded close to the flatline as more Fed speakers echoed Powell's aggressive remarks.," said Vinod Nair, Head of Research, Geojit Financial Services.

He was referring to the US Federal Reserve officials' remarks that the job of bringing inflation down was far from done, remaining hawkish on interest rate hikes.

While selling by foreign investors continued to lower confidence, significant support from domestic investors provided a cushion to the market.

"Investors need to adopt value buying as a strategy. Due to a decrease in valuation near long-term averages, smallcap companies are looking appealing over the long term," he added.

Read more: Hindalco Industries Q3: Net profit drops 63% to Rs 1,362 crore

Adani Wilmar only bright spot, as other group stocks fall

Index	Prices	Change	Change%
Sensex	83,216.28	-94.73	-0.11%
Nifty 50	25,492.30	-17.40	-0.07%
Nifty Bank	57,876.80	322.55	+0.56%

Nifty 50 25,492.30 -17.40 (-0.07%)

Fri, Nov 07, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Shriram Finance	816.35	23.85	+3.01%

Biggest Loser	Prices	Change	Change%
Bharti Airtel	2,001.20	-93.70	-4.47%

Best Sector	Prices	Change	Change%
Nifty Metal	10426.80	144.90	+1.41%

Worst Sector	Prices	Change	Change%
Nifty Infra	9393.60	-95.20	-1.00%

After witnessing recovery in the last two sessions, the Adani Group stocks again came under pressure after MSCI  announced a review of the number of Adani Group-linked shares readily available for trading.

MSCI announced that any changes to the free float and market capitalisation of Adani group stocks, which will impact the calculation of these figures, will be implemented and announced as part of its February index review to be released later in the day.

Except Adani Wilmar, which closed 5 percent higher, other group stocks took a beating again. The flagship Adani Enterprises lost 11 percent, while Adani Power, Adani Transmission, Adani Total Gas, Adani Green Energy and NDTV were down 5 percent each. Adani Ports was down 3 percent.

Stocks and sectors

Adani Enterprises, Adani Ports, Hero MotoCorp, Cipla and JSW Steel were among the biggest losers on the Nifty, while gainers were Bajaj Finserv, HDFC Life, Hindalco Industries, Asian Paints and Infosys.

On the sectoral front, the Nifty metal index shed 1.5 percent, auto index 0.5 percent, pharma index 0.44 percent. The information technology index gained 0.7 percent.

The BSE midcap and smallcap indices underperformed the benchmarks to close flat.

On the BSE, the information technology index rose nearly 1 percent, while the capital goods index was up 0.26 percent. Realty, power, healthcare and auto indices ended lower.

More than 100 stocks slipped to their 52-week low on the BSE. These included OnMobile Global, Bal Pharma, Adani Green Energy, GTPL Hathway, Tide Water Oil, Thyrocare Technologies and Sintex Industries.

Among individual stocks, a volume spike of more than 400 percent was seen in MRF, Trent and Page Industries.

A long build-up was seen in Trent, Cummins India and Jubilant FoodWorks, while a short build-up was seen in MRF, Adani Enterprises and Shree Cements.

Also Read - RBI to hike rates again on sticky inflation, Fed pressure: Analysts

Outlook for February 9

Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities

Traders mostly remained on the sidelines in the absence of any fresh positive triggers, as worries of global slowdown and no signs of any pause in the rate-hike cycle continued to weigh on the sentiment. Though markets were range-bound with a positive bias, fluctuations could continue in the near term.

Technically, on daily charts, the Nifty formed a Doji candlestick, indicating indecisiveness among bulls and bears.

For traders, 17,800 can act as sacrosanct support, while 17,950 could be the important hurdle. After 17,950, the chances of hitting 18,000-18,100 will be bright.

A fresh round of selling is possible if the index slips below 17,800, from where it can fall to 17,650-17,600.

Rohan Patil, Technical Analyst, SAMCO Securities

On the weekly expiry day, the Nifty, on the daily chart, closed above its 21 EMA, which is a positive sign in the short term. Technically, the Nifty is gathering momentum, reviving bullish hopes for a test of near-term resistance at 18,000.

On the lower side, immediate support is at 17,650. A close above 18,000 will lead to a breakout which may lead the prices towards 18,200–18,250.

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