Stock Market Analysis
As of 18 Feb 2022
On Friday, the market was devoid of vigor for the third day in a row, as benchmark indices fell, pulled down by selling in some of the world’s most valuable auto and pharmaceutical firms.
The indices fluctuated modestly throughout the session before closing, almost flat. A few banks witnessed some low-level buying, which aided the market.
However, the volatility indicator remained high, indicating large swings in the days ahead.
The 30-share pack Sensex declined 59.04 points or 0.10 percent to close at 57,832.97. Its broader peer NSE Nifty dropped 28.30 points or 0.16 percent to 17,276.30.
Market at glance
- Nxt Digital’s stock soared 9 percent after the board authorized a demerger swap ratio.
- Brightcom Group rose 5% after announcing a record bonus date.
- Ambuja Cements fell 6% after a dismal October-December report.
- Mahindra Holidays declined 3% due to plans to sell Nreach Online
- Coal India rose 3% as it made a case for a pricing increase.
Coal India was the highest gainer among bluechip stocks, up 2.61 percent.
Other notable gainers included SBI Life Insurance, Bajaj Auto, HDFC, L&T, Axis Bank, Kotak Mahindra Bank, Dr. Reddy’s Labs, and TCS.
On the other hand, the top loser in the Nifty pack was ONGC, which fell 2.18 percent.
Other names that ended in the red were Divi’s Labs, Cipla, UltraTech Cement, M&M, Tata Motors, Shree Cement, and Eicher Motors.
Broader market indices ended the day down, underperforming their more well-known counterparts.
The Nifty Smallcap Index lost 1.06 percent, while the Nifty Midcap Index fell 0.91 percent.
The Nifty 500, the broadest index on the NSE, finished 0.42 percent lower.
The biggest gainers from the mid and smallcap indexes were Quess Corp, Edelweiss Financial Services, India Cements, Voltas, Varun Beverages, and Gujarat Gas, with gains ranging from 1 to 9%.
The European stock markets were trading chaotically. The FTSE in London rose 0.18 percent, while the DAX in Paris and Frankfurt rose 0.36 percent and dipped 0.06 percent, respectively.
