If you thought that the market would make a record today after seeing the rise in the morning, then the selling in the afternoon changed the whole picture. On February 25, the stock market first showed a strong rise, but as soon as it reached its peak, profit-booking became dominant. As a result, the Sensex slipped nearly 700 points from the day’s high and the Nifty also closed below the level of 25,500. However, in the end the fall moderated and the market closed with a slight gain.
BSE Sensex closed at 82,276.07 with a gain of 50.15 points. Whereas Nifty 50 rose 57.85 points and closed at 25,482.50. Sensex had reached 82,957.91 intraday, while Nifty touched a high of 25,652.6. But heavy selling was seen at the upper levels. In the market, 1966 shares were in gain, while 2,064 shares fell, which clearly shows that the pressure was high.
Which stocks took over the market?
Auto and IT stocks saved the market from falling. Bajaj Auto was the top gainer, rising nearly 3%. Tata Steel, HCL Technologies and Shriram Finance gained more than 2%. In the IT sector, Tata Consultancy Services, Infosys, Wipro and Tech Mahindra closed up around 1%. Whereas auto stocks like Mahindra & Mahindra, Maruti Suzuki India and Eicher Motors gained 1-2%.
Which stocks were under pressure?
On the other hand, ITC, Kotak Mahindra Bank and Tata Consumer Products fell more than 1%. There was also weakness in Bharti Airtel and Oil and Natural Gas Corporation.
3 big reasons for market decline
- After a rise of about 0.9% in the morning, investors started reaping profits at the upper level. Nifty could not sustain above 25,800, due to which selling increased.
- Foreign institutional investors (FIIs) again became net sellers. However, domestic institutions (DIIs) supported the market by buying.
- According to experts, strength could not be formed above 25,670. The levels of 25,300 and 82,000 are now considered important support. If these levels are broken then the decline may be further.
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