Sensex, Nifty Fall Sharply Amid Global Weakness

The Indian stock market ended February on a weak note as both the Sensex and Nifty fell sharply amid negative global cues. The Sensex dropped 961 points to close at 81,287, down from 82,248 in the previous session. Nifty also fell 318 points, closing at 25,178. The total market capitalization of BSE-listed companies declined by over ₹5 lakh crore, falling to ₹463.51 lakh crore.

On the BSE, 100 stocks reached their 52-week highs, while 340 shares hit their 52-week lows, showing a mixed but mostly negative trend.

Sector performance:

Banking shares fell sharply, with the BSE banking index losing 698 points.

Auto stocks dropped 1,144 points.

Metal shares fell 646 points.

Capital goods stocks fell 350 points.

Interestingly, the IT sector bucked the trend and closed 80 points higher at 29,755.

Market breadth was negative, with 1,660 stocks gaining, 2,528 falling, and 181 remaining unchanged on the BSE.

Experts shared their views on the market outlook. Nandish Shah, Deputy Vice President at HDFC Securities, said, “The sharp fall below the 200-day EMA at 25,248 signals a bearish trend. Resistance has now shifted lower to 25,370–25,400, while the 24,900–25,000 range may provide some temporary support amid high volatility.”

Rupak De, Senior Technical Analyst at LKP Securities, added, “The index has dropped after staying below the short-term moving average for three days. It has also slipped below the 200-day moving average, confirming weakness that may continue for a while. The RSI indicator has turned very bearish. In the short term, the index may remain under selling pressure, with any rallies likely to be sold. Support is seen at 25,000–24,750, while resistance is around 25,370.”

Overall, the market ended the month with heavy losses, led by banking, auto, metal, and capital goods stocks, while IT stocks were the only major sector to rise.