Indian benchmark indices saw a rebound on Monday, breaking a recent losing streak. Gainful performances in financial and energy sectors drove this recovery, supported by health and pharma stocks.
Market Overview
The Nifty closed at 25,682.75, up by 211.65 points or 0.83%. The 30-share BSE Sensex also saw a recovery, finishing at 83,277.15, rising 650.39 points or 0.79%. The India VIX, a gauge of market volatility, dropped by 0.28% to settle at 13.33.
Technical Insights
Rupak De, Senior Technical Analyst at LKP Securities, noted a hidden positive divergence on the hourly chart. This suggestively led to a bullish engulfing candle on the daily timeframe. “If the Nifty stays above 25,600, further uptrend towards 25,800 is possible. A drop below 25,500 may indicate bearish trends,” he stated.
U.S. Market Closure
The U.S. markets were closed on February 16 for Presidents Day, impacting global trading dynamics.
European Market Update
Major European indices were trending positively around 1:22 p.m. GMT. Spain’s IBEX surged over 1%, while French CAC 40, Stoxx 600, Germany’s DAX, and the UK’s FTSE 100 rose by up to 0.45%.
Market Activity
Most Active Stocks by Turnover
- HDFC Bank: ₹480 crore
- Kotak Mahindra Bank: ₹305 crore
- SBI: ₹247 crore
- Eternal: ₹217 crore
- Natco Pharma: ₹190 crore
- HAL Technologies: ₹150 crore
- Engineers India Ltd.: ₹136 crore
Most Active Stocks by Volume
- Vodafone Idea: 2.59 crore shares
- SpiceJet: 1.57 crore shares
- EaseMyTrip Bank: 1.38 crore shares
- Ola Electric: 1.23 crore shares
- Eternal: 75.66 lakh shares
- Kotak Mahindra Bank: 72.69 lakh shares
- Yes Bank: 63.51 lakh shares
Buying Interest Trends
Stocks like Power Grid Corporation, EaseMyTrip, and Engineers India demonstrated strong buying interest, indicating positive market sentiment.
52-Week Highs and Lows
A total of 106 stocks reached their 52-week highs, with notable inclusions like Astral and Larsen & Toubro (L&T). Conversely, 221 stocks hit their 52-week lows.
Stocks Under Selling Pressure
Large-cap stocks like Tech Mahindra, Bajaj Finance, and Maruti Suzuki faced significant selling pressure. Others in this category included Ola Electric and Inox Wind.
Market Sentiment
While heavyweight stocks such as HDFC Bank and Reliance Industries supported the market’s recovery, the broader market sentiment leaned negative. Out of 4,496 stocks trading on the BSE, 1,747 advanced, while 2,565 declined.
Monitoring these key factors will be crucial for understanding ongoing market dynamics and potential shifts in investor sentiment.
