Synopsis
On February 25, the Indian stock market displayed a steady performance with the Sensex gaining slightly while the Nifty saw a minor decline. Investor caution prevailed amidst mixed sentiments, with notable movements among various stocks and sectors.Key Takeaways
- Sensex rises by 147.71 points.
- Nifty dips by 5.80 points.
- Major stocks exhibit mixed trends.
- Broader indices face declines.
- Market sentiment remains cautious.
Mumbai, February 25 (NationPress) The Indian stock market concluded Tuesday's trading session on a neutral note, as investors exercised caution in light of the mixed market sentiment.
The Sensex increased by 147.71 points, equivalent to 0.20 percent, finishing at 74,602.12. Throughout the day, the index fluctuated between 74,785.08 and 74,400.37.
Conversely, the Nifty recorded a slight decrease, falling by 5.80 points, or 0.03 percent, to conclude at 22,547.55. The index achieved a peak of 22,625.30 and a low of 22,516.45 during the trading session.
The stock market displayed a mixed performance. Of the 50 Nifty stocks, 31 experienced declines.
Rupak De from LKP Securities remarked that the index remained largely subdued, with only a minor correction near the session's end, noting that the sentiment continues to lean towards the bears.
A movement towards resistance is expected to invite selling pressure, he added.
Top losers included Hindalco, Dr Reddy’s Labs, Trent, Hero MotoCorp, and Sun Pharma, which suffered losses of up to 3.10 percent.
In contrast, Bharti Airtel, Mahindra & Mahindra, Bajaj Finance, Nestle India, and Titan recorded gains of up to 2.32 percent.
The broader market indices also faced some headwinds. The Nifty Midcap100 index decreased by 0.62 percent, while the Nifty Smallcap100 index fell by 0.44 percent.
Sectoral indices presented a divided picture. Sectors such as Nifty Auto, FMCG, Select Financial Services, Media, and Consumer Durables closed with gains of up to 0.84 percent.
However, other sectors experienced declines, reflecting the cautious sentiment prevailing in the market.
“From a technical perspective, the daily chart indicates that Nifty has formed an inverted hammer candlestick pattern, suggesting buying interest around 23,500 levels,” stated Hrishikesh Yedve from Asit C. Mehta Investment Limited.
He further noted that as long as the index respects the 23,500 levels, a potential pullback rally towards 22,700-22,800 could materialize. The 22,700-22,800 range will act as a solid resistance zone.
Staying below 22,500 levels could trigger new selling pressure. Traders should keep an eye on these levels for possible trading opportunities.
The volatility index, India VIX, decreased by 5.03 percent to 13.72, indicating reduced market volatility.
The domestic benchmark indices will observe a closure on Wednesday (February 26) in observance of the Maha Shivaratri holiday.
The Indian rupee depreciated by 50 paise on Tuesday, concluding at 87.20 per dollar, compared to 86.70 during the previous session.
