Stock Market Highlights: Sensex tanks 1,939 points, Nifty ends below 14,600

Stock Market Highlights: Sensex tanks 1,939 points, Nifty ends below 14,600

The indices witnessed a strong downwards trend as both Sensex and Nifty lost close to 4 per cent on 26th February 2021.

At close, the Sensex was down 1,939 points or 3.80 per cent at 49,099.99 while the Nifty was down 568 points or 3.79 per cent at 14,529.15.

On the Nifty 50 index, NFL (18.06 per cent), Praj Industries (13.33 per cent), Rashtriya Chemicals (12.11 per cent), South Indian Bank (10.67 per cent) and Jagran Prakashan (9.44 per cent) were the top gainers for the day, while ONGC (-6.76 per cent), JSW Steel (-6.24 per cent), Hero Motocorp (-6.13 per cent), M&M (-6.12 per cent) and Kotak Mahindra Bank (-6.07 per cent) were the top losers for the day.

On the sectoral front, all the sectoral indices ended in red, led by Nifty Bank which was down 4.78 per cent followed by Nifty PSU Bank and Nifty Infra which were down 3.97 per cent and 3.56 per cent respectively.

The BSE Midcap and Smallcap indices were down 1.75 per cent and 0.74 per cent respectively.

Author’s View: Nifty broke its major support at 14,750 level. A recovery above 14,850 may lead to a trend reversal or else we may see Nifty moving towards 14,280.  

Disclaimer:  The view/s expressed above are only for educational/awareness purpose. or the author of the post bears no liability for any losses suffered by following any advice posted on the website. You are solely responsible for making your own investment decisions.

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