MUMBAI, Feb 25: The benchmark BSE Sensex rebounded by 147 points in a mostly stable trading session on Tuesday, breaking its five-day decline due to increased buying in financial and FMCG stocks. The 30-share BSE Sensex rose by 147.71 points, or 0.20 percent, closing at 74,602.12, with 17 of its components gaining and 13 losing ground. During the day, it peaked at 74,785.08 with a gain of 330.67 points, or 0.44 percent. Meanwhile, the broader Nifty of NSE fell for the sixth consecutive day, decreasing by 5.80 points, or 0.03 percent, to finish at 22,547.55, impacted by late selling in the pharma, metal, and IT sectors.
Analysts noted that weak markets in Asia and the US, along with foreign fund outflows, contributed to a risk-averse sentiment among investors. Among the notable gainers on the Sensex were Mahindra & Mahindra, Bharti Airtel, Bajaj Finance, Zomato, Nestle, Bajaj Finserv, Maruti, and Titan. On the other hand, Sun Pharma, Power Grid, Tata Consultancy Services, Tech Mahindra, Asian Paints, and Tata Motors were among the biggest decliners. Over the past five trading sessions, the BSE barometer has dropped 1,542.45 points, or 2 percent.
Data indicates that foreign institutional investors (FIIs) sold equities worth Rs 6,286.70 crore on Monday, while domestic institutional investors (DIIs) purchased equities worth Rs 5,185.65 crore. In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong all closed lower, while equity markets in Europe were mostly positive. On Monday, US markets also closed predominantly in the red.
“The benchmark indices showed a mixed performance in a lackluster trading session, as weak Asian signals further dampened investor sentiment. The prevailing global uncertainty, combined with robust FII selling, has kept the market cautious ahead of this week’s expiry,” stated Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd.
The global oil benchmark Brent crude fell by 0.13 percent to USD 74.68 per barrel.
“The domestic market engaged in range-bound activity as traders awaited significant economic data releases this week, alongside the monthly expiry. Concerns over high valuations have continued to suppress small and midcap stocks. Market sentiment is likely to remain tentative in the short term due to ongoing pressure on the INR, persistent FII outflows, and tariff-related issues,” remarked Vinod Nair, Head of Research at Geojit Financial Services.
He further added that important macroeconomic indicators, including the US Core PCE and GDP data from both the US and India, will play a crucial role in influencing future expectations for the central bank’s monetary policy.
Previously, the Sensex had fallen by 856.65 points, or 1.14 percent, closing at 74,454.41 on Monday, while the Nifty had declined by 242.55 points, or 1.06 percent, to 22,553.35. Stock markets will be closed on Wednesday in observance of ‘Mahashivratri’. (PTI)
