Stock Market Highlights: Sensex sheds 379 points, Nifty below 15,200

Nifty closed below major support while the Sensex was down 379 points on 18^th February. Rally in PSU Banks continued.

At close, the Sensex was down 379.14 points or 0.73 per cent at 51,324.69 and the Nifty was down 89.90 points or 0.59 per cent at 15,119. About 1609 shares have advanced, 1316 shares declined and 151 shares remain unchanged.

On the Nifty 50 index, Bajaj Finance (-249 per cent), Nestle (-2.25 per cent), Kotak Mahindra Bank (-2.21 per cent) and Shree Cement (-2.28 per cent) were the top losers for the day, while ONGC (8.26 per cent), GAIL (6.47 per cent), BPCL (4.98 per cent) and IOC (4.21 per cent) were the top gainers for the day.

On the sectoral front, sectoral indices like Metal, IT, Infra, Energy and PSU Banks ended in green led by Nifty PSU Bank being the top gainer for the day, while Pharma, Nifty Bank, Consumption, Realty, Auto and FMCG ended in red led by Nifty Auto being the top loser for the day.

The BSE Midcap and Smallcap indices gained 0.69 per cent and 0.67 per cent respectively.

Author’s View:  Nifty is breaking consecutively breaking every support. Now final strong support is placed at 15,000. If Nifty breaks this then we can see the index moving further down towards the 14,750 level.

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