Synopsis
On February 19, the Indian stock market saw a flat ending amid market volatility. Benchmark indices experienced fluctuations, but smallcap stocks emerged as outperformers.Key Takeaways
- Sensex closed at 75,939.18, down by 28.21 points.
- Nifty index ended at 22,932.90, down by 12.40 points.
- Smallcap stocks outperformed with a 2.36 per cent rise in the Nifty Smallcap100 index.
- Banking sectors saw gains, with Bank Nifty up by 0.94 per cent.
- Technology stocks faced losses, notably the Nifty IT index down by 1.26 per cent.
Mumbai, Feb 19 (NationPress) The Indian stock market experienced a volatile trading session on Wednesday, with the main indices finishing flat despite fluctuations throughout the day.
The Sensex settled at 75,939.18, declining by 28.21 points or 0.04 per cent. It reached an intra-day peak of 76,338.58 but also dipped to 75,581 before the close.
In a similar vein, the Nifty index ended nearly unchanged at 22,932.90, falling by 12.40 points or 0.05 per cent. The broader index fluctuated between 23,049.95 and 22,814.85 during the trading hours.
In terms of individual stocks, half of the Nifty components closed in the negative territory. Dr Reddy's Laboratories, TCS, Infosys, and Hindustan Unilever were among the top losers, experiencing declines of up to 2.48 per cent.
Conversely, Bharat Electronics, Hindalco, Eicher Motors, Larsen & Toubro, and Axis Bank achieved gains of up to 3.54 per cent.
Smallcap stocks outperformed the benchmark indices, with the Nifty Smallcap100 index increasing by 2.36 per cent, driven by JBM Auto and Aegis Logistics.
The Nifty Midcap100 index also rose, concluding the day 1.56 per cent higher. Among the sectoral performances, banking stocks excelled, as the Nifty Private Bank and PSU Bank indices each climbed over 1 per cent.
The Bank Nifty index also registered a gain of 0.94 per cent. Sectors such as consumer durables, financial services, metals, media, and realty recorded gains of up to 1.59 per cent.
On the downside, technology and healthcare stocks pulled the market lower. The Nifty IT index was the worst performer of the day, decreasing by 1.26 per cent due to losses in Persistent Systems and Mphasis.
Other sectors that lagged included auto, healthcare, pharma, and FMCG, all of which closed in the red.
"The Nifty has remained within a range, maintaining a volatile atmosphere. A support level of 22,800 is critical. As long as 22,800 holds, we do not foresee a substantial downturn in the market,” remarked Rupak De from LKP Securities.
The Rupee traded lower at 86.81, as the dollar index hovered around 107, with rising crude prices above 72.40 (WTI) adding pressure on the rupee.
