[ad_1]
The BSE benchmark Sensex fell 15 points or 0.02% to settle at 73,143. The broader NSE Nifty dropped 5 points or 0.02% to end at 22,212.
Among blue-chip Sensex stocks, HCL Tech, Maruti, Asian Paints, Airtel, and TCS were the top laggards, falling over 1% each. While Bajaj Finserv, M&M, Titan, Wipro, and Reliance Industries closed higher.
Vodafone Idea shares closed nearly 8% higher after the company said that its board is scheduled to meet on February 27 to consider and evaluate options to raise funds through the equity route.
Sona BLW Precision Forgings shares also closed 6% higher after the auto component maker received certification under the auto Production Linked Incentive (PLI) scheme.
Sector-wise, Nifty PSU Bank fell 1.15%, dragged by Indian Overseas Bank, Punjab and Sind Bank, and Bank of Baroda. Nifty FMCG, IT, Metal, and Oil & Gas also closed in the red.Meanwhile, the more domestically focused Nifty Smallcap100 and Midcap100 added about 0.3% each.The market breadth was skewed in the favour of the bulls. About 2,046 stocks gained, 1,792 declined, and 98 remained unchanged on the BSE.
Expert Take
“As the earnings season winds down, the market is eagerly awaiting new catalysts however rallying on the pre-election momentum. Concerns linger over rising crude oil prices, surging US bond yields, and stretched valuations, likely prompting continued selling by FIIs,” said Vinod Nair, head of research, Geojit Financial Services.
Rupak De, senior technical analyst at LKP Securities, said, “Nifty opened higher but failed to sustain the morning momentum, leading to a closing at the day’s low due to profit booking. However, the sentiment remained positive for the short term as the index closed above the crucial resistance level of 22,200, with the next resistance seen at 22,400. Short-term support is positioned at 21,900. As long as Nifty maintains levels above 21,900, the index may continue to be considered a buy on dips.”
Global Markets
Global shares firmed on Friday, capping a record-breaking week after US chipmaker Nvidia’s blockbuster earnings energised tech stocks, powering key benchmarks across the world to new highs.
Japan’s stock market was closed for a public holiday on Friday, but Nikkei futures rose nearly 1%.
Chinese shares wobbled between gains and losses. Hong Kong’s Hang Seng index slipped 0.1%. U.S. futures were slightly weaker.
Oil Prices Decline
Oil prices were on track on Friday to snap a two-week winning streak after the US central bank indicated that interest rate cuts could be delayed by at least two more months, but indications of healthy fuel demand and supply concerns could revive prices in coming days.
Brent crude futures were down 93 cents, or 1.12%, at $82.71 a barrel, while U.S. West Texas Intermediate crude futures were $1, or 1.3%, lower at $77.61.
Currency Watch
The Indian rupee inched lower on Friday due to dollar demand from importers and oil companies, but clocked weekly gains on the back of foreign fund inflows into the share and bond markets.
The rupee ended at 82.9375 per US dollar compared with its close of 82.84 in the previous session. On the week, the rupee rose 0.1%.
(With inputs from agencies)
(You can now subscribe to our ETMarkets WhatsApp channel)
[ad_2]
Source link