Stock Market Today: Dalal Street under bear pressure as Sensex holds near 82,500, Nifty around 25,400

Stock Market Today: Indian equity benchmark indices opened slightly lower on Monday, February 16, tracking mild profit booking after recent gains. The BSE Sensex fell 44.80 points, or 0.05 per cent, to open at 82,581.96, compared with its previous close of 82,626.76. The index started the session at 82,480.40.

The NSE Nifty 50 also slipped 46.15 points, or 0.18 per cent, to trade at 25,424.95 in early deals.

Sensex at 10AM

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The BSE Sensex was at 82,802 levels, rising 175 points or 0.21 per cent, at 10 AM. The NSE Nifty50 was at 25,523, higher by 51 points or 0.2 per cent. The benchmarks remained in a narrow range as investors stayed selective and avoided aggressive buying.

Power Grid, HDFC Bank, Sun Pharma among top gainers

Among Sensex constituents, Power Grid, HDFC Bank, Sun Pharma, NTPC, Kotak Bank, Bajaj Finserv, HCL Tech, ITC, and Axis Bank were the top gainers. These stocks helped support the benchmark indices and limited downside pressure.

On the other hand, Infosys, Adani Ports, Titan, HUL, SBI, Tech Mahindra, Bajaj Finance, and ICICI Bank were among the top losers. Selling in IT and financial heavyweights restricted the market’s upward momentum.

Broader markets remain weak despite recovery from lows

The broader market continued to show weakness. The Nifty MidCap index and the Nifty SmallCap index were off their intraday lows but were still down 0.06 per cent each.

Further, broader indices on the NSE also remained under pressure. The Nifty 100 declined 0.22 per cent, the Nifty Midcap 100 fell 0.46 per cent, and the Nifty Smallcap 100 slipped 0.62 per cent. This indicates cautious participation across companies of different sizes.

Pharma leads sectoral gains; IT, PSU Bank stocks under pressure

Among sectoral indices, the Nifty Pharma index gained 1 per cent and emerged as the top performer, while the Nifty Auto index edged higher by 0.06 per cent.

On the downside, the Nifty IT and PSU Bank indices declined 0.4 per cent each. The Nifty Metal index also fell 0.81 per cent, and the Nifty FMCG index slipped 0.18 per cent. Weakness in IT stocks continued to weigh on overall market sentiment.

Gold, silver decline; Asian markets remain flat

In commodities, gold and silver prices declined on Monday. Gold prices fell 0.68 per cent to Rs 154,830 per 10 grams for 24-karat gold, while silver prices declined sharply by 2.92 per cent to Rs 237,222 per kilogram.

In Asian markets, movements remained mostly flat. Japan’s Nikkei 225 declined marginally by 0.09 per cent, while Hong Kong’s Hang Seng gained 0.29 per cent. Markets in Taiwan and South Korea remained closed due to holidays, leading to muted regional cues.