On Thursday, India’s domestic benchmark indices fell for the third straight session, with selling observed in the IT, pharmaceutical, and financial services sectors.
The Sensex closed at 75,735.96, down by 203.22 points or 0.27 percent. The index reached an intra-day high of 75,794.15 but also fell to a low of 75,463.01 before closing.
The Nifty index closed practically steady at 22,913.15, down 19.75 points or 0.09 percent. The broader index fluctuated between 22,923.85 and 22,812.75 during the session.
According to observers, another day passed with the Nifty maintaining within a limited range, failing to break over a specific level.
“Although broader market equities rose significantly, the leading indices, Nifty and Bank Nifty, remained largely range-bound. On the bottom end, the Nifty is supported at 22,800, while resistance is at 23,150. Rupak De, Senior Technical Analyst at LKP Securities, stated that a significant breakout on either side might cause a market directional shift.
Nifty Bank closed at 49,334.55, down 235.55 points, or 0.48 percent. The Nifty Midcap 100 index concluded at 51.163.80 after rising 636.55 points, or 1.26 percent, while the Nifty Smallcap 100 index closed at 15,747.70, up 221.80 points, or 1.43 percent.
The NSE’s PSE, Auto, PSU Bank, Metal, Realty, Media, Energy, Infra, and Commodities sectors all saw positive movements.
The Nifty PSE index was the best performer, up 2.15 percent throughout the day.
On the Bombay Stock Exchange (BSE), 2,699 shares closed in the green, 1,273 shares in the red, and 111 shares remained unchanged.
The largest losers among the Sensex pack were HDFC Bank, Maruti Suzuki, Tech Mahindra, HCL Tech, ITC, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance, Zomato, and Sun Pharma. The biggest gainers included NTPC, Adani Ports, M&M, Tata Steel, Tata Motors, IndusInd Bank, Power Grid, Infosys, and Axis Bank.
On the institutional front, foreign institutional investors (FIIs) sold stocks worth Rs 1,881.30 crore on February 19. Domestic institutional investors (DIIs) remained net purchasers, purchasing shares worth Rs 1,957.74 crore on the same day.
The rupee rose 0.34Rs to 86.68, buoyed by lower crude prices and a dollar index trading below 107$.
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