Indian stock market ends lower, small and midcap shares shine
India's domestic benchmark indices ended lower for the third consecutive session on Thursday as selling was seen in the IT, pharma and financial services sectors
image for illustrative purpose
Mumbai, Feb 20: India's domestic benchmark indices ended lower for the third consecutive session on Thursday as selling was seen in the IT, pharma and financial services sectors.
Sensex ended at 75,735.96 down by 203.22 points or 0.27 per cent. The index had touched an intra-day high of 75,794.15 but also saw a low of 75,463.01 before closing.
The Nifty index ended almost unchanged at 22,913.15, slipping by 19.75 points or 0.09 per cent. The broader index traded between 22,923.85 and 22,812.75 during the session.
According to experts, another day passed with Nifty remaining confined within a narrow range, failing to break beyond a defined level.
“Though broader market stocks witnessed a significant rise, the headline indices, Nifty and Bank Nifty, mostly remained range-bound. On the lower end, support is placed at 22,800 for Nifty, while resistance is at 23,150. A decisive breakout on either side might trigger a directional move in the market,” said Rupak De, Senior Technical Analyst at LKP Securities.
Nifty Bank ended at 49,334.55 down by 235.55 points or 0.48 per cent. The Nifty Midcap 100 index closed at 51.163.80 after climbing 636.55 points, or 1.26 per cent, while the Nifty Smallcap 100 index closed at 15,747.70 after adding 221.80 points, or 1.43 per cent.
Among the sectors on the NSE, PSE, Auto, PSU Bank, Metal, Realty, Media, Energy, Infra and Commodities showed positive movements.
The Nifty PSE index was the top performer, which rose 2.15 per cent during the session.
On the Bombay Stock Exchange (BSE), 2,699 shares ended in the green and 1,273 shares in the red, whereas there was no change in 111 shares.
In the Sensex pack, HDFC Bank, Maruti Suzuki, Tech Mahindra, HCL Tech, ITC, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance, Zomato and Sun Pharma were the top losers. Whereas, NTPC, Adani Ports, M&M, Tata Steel, Tata Motors, IndusInd Bank, Power Grid, Infosys and Axis Bank were the top gainers.
On the institutional front, foreign institutional investors (FIIs) offloading equities worth Rs 1,881.30 crore on February 19. In contrast, domestic institutional investors (DIIs) remained net buyers, purchasing equities worth Rs 1,957.74 crore on the same day.
Rupee traded higher with a gain of 0.34Rs at 86.68, supported by weakness in crude prices and a dollar index trading below 107$.
