Sensex closes negative for second day in a row

Sensex and Nifty closed on a negative note for the second consecutive session on February 17.

At close, the Sensex was down 400.34 points or 0.77 per cent at 51,703.83, and the Nifty was down 104.60 points or 0.68 per cent at 15,208.90. About 1480 shares have advanced, 1422 shares declined and 144 shares remain unchanged.

On the Nifty 50 index, Hero Moto Corp (3.54 per cent), Adani Ports (3.00 per cent), Power Grid (2.00 per cent) and NTPC (1.38 per cent) were the top gainers for the day, while Nestle India (-2.76 per cent), Asian Paints (-2.53 per cent), Bajaj Finserv (-2.63 per cent) and Maruti Suzuki (-2.52 per cent) were the top losers for the day.

On the sectoral front, Metal, Infra, Auto, Energy and PSU Bank indices ended in green led by Nifty PSU Bank which was up by 5.86 per cent, while Pharma, Banks, IT, Consumption and FMCG ended in red led by Nifty Pharma which was down by 1.72 per cent.

The BSE Midcap and Smallcap indices gained 0.04 per cent and 0.53 per cent respectively.

Author’s View: Nifty closed below its support of 15,250. Going forward 15,250 level will act as strong resistance for the index. The next immediate support for the index is at 15,100 level if this level breaks we can see Nifty moving towards 14,950.

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