The Indian stock markets closed on a mixed note after a range-bound trading session. The BSE Sensex ended the day at 74,602.12, up 147.71 points or 0.20%, snapping a five-day losing streak. The NSE Nifty 50 settled at 22,547.55, down marginally by 5.80 points or 0.03%, extending its losing run to six days. Broader market indices faced selling pressure, with the BSE MidCap index declining 0.65% and the BSE SmallCap index dropping 0.45%, reflecting a cautious undertone despite the Sensex rebound.
Key Highlights:
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Market Sentiment: The session saw a flat opening, with GIFT Nifty signaling a muted start. The India VIX remained elevated at 15.09 (unchanged from yesterday’s spike), indicating persistent uncertainty. Posts on X noted a “choppy” day with late selling in Nifty heavyweights dragging it below 22,600.
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Top Gainers: Mahindra & Mahindra led the Nifty 50 gainers, rising 3.07% to ₹2,803.25, followed by Bharti Airtel, up 2.8% at an unspecified level, and Bajaj Finance, gaining 2.5%. These stocks provided crucial support to the Sensex.
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Top Losers: Larsen & Toubro was the biggest loser, falling 1.39% to ₹3,211.65, followed by TCS, down 0.73% to ₹3,647.90, and Power Grid, declining 0.66% to ₹257.45. IT and metal stocks weighed heavily on the Nifty.
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Sectoral Performance: Sectoral indices showed divergence. Nifty Media rose 0.99%, Nifty Auto gained 0.36%, and Nifty FMCG edged up 0.18%. However, Nifty IT slumped 2.71%, Nifty Metal fell 2.17%, and Nifty PSU Bank dropped 1.54%, reflecting sectoral weakness.
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FII and DII Activity: Foreign Institutional Investors (FIIs) sold shares worth ₹6,286.70 crore, intensifying their February outflows (exceeding ₹36,977 crore per prior trends). Domestic Institutional Investors (DIIs) countered with net buys of ₹5,185.65 crore, per X posts, though insufficient to lift broader sentiment.
Notable Corporate Updates:
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Maruti Suzuki: Commenced commercial production at its Kharkhoda, Haryana facility (Phase I, 250,000 units/year), with shares trading flat at ₹12,397.20.
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Marksans Pharma: Its subsidiary Relonchem Ltd received approval to market Ibuprofen and Paracetamol tablets, though shares slipped 0.88% to ₹223.77.
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Inox India: Gained traction after securing IATF 16949 certification for cryogenic fuel tanks, supporting industrial sector sentiment.
Market Context:
The mixed close came amid global uncertainty, with U.S. markets showing weakness due to growth concerns and tariff fears. Domestically, the market digested Monday’s sharp selloff (Sensex down 856.65 points), with investors cautious ahead of tomorrow’s market holiday for Mahashivratri (February 26, 2025). Despite FII outflows and a rupee above 84.5/USD, selective buying in large caps like M&M and Airtel offered some relief. Analysts on X suggest Nifty could test 22,400 if weakness persists, though a rebound above 22,750 remains possible with positive triggers.