The Indian stock market benchmarks, the Sensex and the Nifty 50, ended lacklustre on Thursday, February 26, due to profit booking in select heavyweights, including HDFC Bank and Axis Bank, amid mixed global cues.
The Sensex ended 27 points, or 0.03%, lower at 82,248.61, while the Nifty 50 inched up by 14 points, or 0.06%, to settle at 25,496.55.
The mid and small-cap segments ended with gains; the BSE 150 MidCap Index clocked a decent gain of 0.55%, while the BSE 250 SmallCap Index rose by 0.07%.
The overall market capitalisation of BSE-listed firms increased to ₹468 lakh crore from ₹467 lakh crore in the previous session, making investors richer by about ₹1 lakh crore in a single session.
Indian stock market today: 10 key highlights
1. Why did the Sensex, Nifty 50 end flat today?
The market benchmarks ended flat, as gains in shares of select heavyweights, such as Reliance, Bharti Airtel, and SBI, were largely offset by losses in HDFC Bank, Eternal, and Axis Bank.
Amid the lack of fresh domestic triggers, the focus is on the global cues, such as the US–Iran nuclear talks.
“The domestic market surrendered its early gains amid mixed global cues and increased caution ahead of the US–Iran nuclear talks, as well as key data releases including US initial jobless claims and India’s GDP print, which triggered profit booking,” Vinod Nair, Head of Research, Geojit Investments Limited, noted.
2. Top Nifty 50 gainers
Tata Motors Passenger Vehicles (up 2.54%), Eicher Motors (up 2.27%), and Bharat Electronics (BEL) (up 2.22%) ended as the top gainers in the Nifty 50 index.
3. Top losers in the Nifty 50 index
Trent (down 1.68%), Coal India (down 1.16 %), and Eternal (down 1.48%) ended as the top losers in the index.
4. Sectoral indices today
Most sectoral indices ended higher, with Nifty Pharma and Healthcare rising more than 1% each. Nifty PSU Bank and Auto indices rose by almost 1% each.
On the other hand, Nifty Media (down 0.68%), FMCG (down 0.16%), and Financial Services (down 0.11%) ended in the red.
Nifty Bank rose by 0.24% to end at 61,187.70.
5. Most active counters in terms of volume
Vodafone Idea (42.8 crore shares), YES Bank (21.4 crore shares), and Tata Silver Exchange Traded Fund (20.8 crore shares) were the most active counters in terms of volume on the NSE.
6. Advance-decline ratio
The advance-decline ratio remained in favour of advancers as nearly 2,200 stocks advanced while more than 2,000 declined on the BSE.
7. 12 stocks jump over 15% on BSE
Tejas Networks, Sri Havisha Hospitality and Infrastructure, Race Eco Chain, Rudra Global Infra Products, Xtglobal Infotech, and Tarmat were among the 12 stocks that jumped more than 15% on the BSE.
On the other hand, R M Drip and Sprinklers Systems, Sirohia & Sons, and TGIF Agribusiness were among the 10 stocks that crashed more than 15% on the BSE.
8. Over 100 stocks hit 52-week highs
Some 109 stocks, including Bajaj Auto, TVS Motor Company, Bank of Baroda, Canara Bank, Shriram Finance, Cummins India, Eicher Motors, Federal Bank, ONGC, Indian Oil Corporation, and Lupin, hit their 52-week highs in intraday trade on the BSE.
9. 258 stocks hit 52-week lows
Wipro, IRCTC, IRFC, Reliance Power, Syngene International, Swan Corp, Alkyl Amines Chemicals, AWL Agri Business, and Cyient were among the 258 stocks that hit their 52-week lows in intraday trade on the BSE.
10. Nifty’s technical outlook
According to Rupak De, Senior Technical Analyst at LKP Securities, 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,” said De.
Sudeep Shah, the head of technical and derivatives research at SBI Securities, said that for the Nifty 50, the 50-day EMA zone of 25,630-25,660 will act as an immediate hurdle.
“Any sustainable move above 25,660 will lead to a sharp upside rally to the 25,800 level. On the downside, the zone of 25,380-25,350 will act as crucial support for the index,” said Shah.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
