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HomeUncategorizedInvestor Alarm: Sensex Tanks 790 Points, Nifty Plunges Below 22,000; Small and...

Investor Alarm: Sensex Tanks 790 Points, Nifty Plunges Below 22,000; Small and Midcaps Bear the Brunt.

Investor Alarm

Power Grid, Apollo Hospitals, Eicher Motors, and Maruti Suzuki were the biggest Nifty losses, while HUL, Infosys, TCS, and Bharti Airtel gained.

On February 28, small and midcaps led the selling as the Indian equities benchmarks fell more than 1%.

After falling to 72,222.29, the Sensex fell 790.34 points, or 1.08 percent, to 72,304.88. The Nifty fell 247.10 points, or 1.11 percent, to 21,918.85 before ending at 21,951.20.

Sectors and stocks

Power Grid, Apollo Hospitals, Eicher Motors, and Maruti Suzuki were the largest Nifty losses, while HUL, Infosys, TCS, and Bharti Airtel gained.

The car, oil & gas, electricity, and realty indexes all closed in the red. down 2% each.

Midcap and smallcap BSE indexes lost 2%.

Balrampur Chnini Mills, Zee Entertainment Enterprises, and Aditya Birla Fashion & Retail had volume spikes of 200 percent.

Vodafone Idea, Zee Entertainment Enterprises, Godrej Properties, Havells India, Max Financial Services, and Samvardhana Motherson International had brief build-ups.

More than 250 BSE stocks reached their 52-week high, including Aster DM Healthcare, Filatex India, Force Motors, Godfrey Phillips, Havells India, Intellect Design, Just Dial, PB Fintech, Rainbow Child, Thyrocare Technologies, Triveni Turbine, Venus Pipes, V-Guard Industries, Voltas.

February 29 forecast

The Nifty50 experienced a sharp correction in the day, dropping below the 22,000 mark and indicating growing weakness. The index breached the 22,000 mark and ended the session at 21,951.15 with a loss of 247.20 points. Media and PSU Banking were major laggards, while the Broader markets experienced a steep fall, with Mid and Smallcaps correcting by 1.94% and 1.87% respectively.

The Nifty50 breached its congestion zone on the downside, indicating a change of short-term to negative sentiment. The index has been navigating within a rising channel, with a decline below 21,950 potentially triggering a correction towards 21,800 in the near term, and a sustained trade above 21,950 potentially spurring a recovery towards 22,100.

FII Sold1,509.16  Cr
DII Bought2,861.56 Cr
as per last trading session

Indian Market Stocks

Sensex-790.34-1.08%72,304.88
Nifty 50-247.20-1.11%21,951.15
Bank Nifty-624.90-1.34%45,963.15
as per closing Bell

Market Movers

HUL16.25 0.68%Power Grid Corp-12.95 -4.43%
Infosys7.65 0.46%Apollo Hospital-258.25 -3.90%
TCS14.55 0.35%Eicher Motors-139.00 -3.47%
Bharti Airtel1.25 0.11%Bajaj Auto-274.85 -3.25%
Maruti Suzuki-347.85 -3.02%
as per closing Bell

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