Mumbai (Maharashtra) [India], February 18 (ANI): Indian equity indices on Tuesday ended flat on Tuesday ahead of the Federal Open Market Committee (FOMC) minutes and ongoing concerns on United States tariff-related issues.
At the close of the trading today, the BSE Sensex was in red, 29.47 points or 0.04 per cent at 75,967.39, and the Nifty was down 14.20 points or 0.06 per cent at 22,945.30.
“On Tuesday, the Indian blue-chip equity indices, Sensex and Nifty50, closed with a slight decline, primarily due to a slowdown in earnings and concerns over ongoing foreign selling, which affected market sentiment, ” said Ameya Ranadive, Chartered Market Technician, CFTe, Sr. Technical Analyst, StoxBox.
“Volatility is expected to remain high due to ongoing concerns over US tariff-related issues. The broader market underperformed, with the Nifty Midcap 100 and Nifty Small Cap 100 indices closing down by 0.2% and 1.6%, respectively, ” said Bajaj Broking Research Team in its market closing commentary.
“The Nifty index opened flat, witnessed selling pressure in the first half, but saw a sharp recovery in the second half, ultimately settling marginally lower at 22,945,” said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Intermediates Ltd. (A Pantomath Group Company).
“Technically, on the daily scale, Nifty has formed a hammer candlestick pattern near a multiple support zone, indicating strength. As long as the index holds the recent low of 22,725, a buy-on-dips strategy remains favorable. The 21-Day Simple Moving Average (DSMA) at 23,240 acts as an immediate hurdle, and a decisive move above this level could confirm a near-term bottom reversal,” he added.
In today’s trading, around 993 stocks advanced, 2804 stocks declined, and 101 shares remained unchanged. At the BSE, the midcap index was down 0.2 per cent, and the small-cap index shed 1.7 per cent.
The broader market underperformed, with the Nifty Midcap 100 and Nifty Small Cap 100 indices closing down by 0.2 per cent and 1.6 per cent, respectively.
On the National Stock Exchange (NSE), Trent, IndusInd Bank, M&M, UltraTech Cement, and Bharat Electronics were the top losers during the trading, while Tech Mahindra, Wipro, ONGC, Power Grid and NTPC emerged as the top gainers.
Sectors such as Pharma, FMCG, Media, PSU Bank, and Consumer Durables saw a fall between 0.5-1 per cent, while IT, Power, and the Oil & Gas index were up 0.5 per cent each. (ANI)
