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Sensex, Nifty Edge Up as IT & Metal Stocks Outperform; RIL Drags

Indian equity benchmarks closed with modest gains on Wednesday, paring most of their early advances. The rally was led by strong buying in metal and IT stocks, which helped counter significant selling pressure in heavyweight Reliance Industries. Broader midcap and smallcap indices outperformed the main benchmarks, ending the day with stronger gains. Analysts note that the Nifty faces strong resistance near the 25,650 level while finding support around 25,400.

Key Points: Sensex, Nifty Gain Slightly; IT, Metal Stocks Shine

  • Nifty up 0.23%
  • Sensex gains 0.06%
  • Metal & IT sectors lead
  • Reliance Industries top drag
  • Broader markets outperform
2 min read

Sensex, Nifty end slightly higher; IT, metal stocks shine

Indian markets closed marginally higher. IT and metal stocks rallied, offsetting losses in heavyweights like Reliance Industries. Nifty ends at 25,482.50.

"A decisive break below 25,300 may accelerate selling pressure toward 25,250-25,150 - Market Expert"

Mumbai, Feb 25

Indian stock markets ended slightly higher on Wednesday, even though they gave up most of their early gains during the day.

Heavyweights like Reliance Industries and State Bank of India put pressure on the indices, while buying in metal and IT stocks helped limit the losses.

The Nifty closed 57.85 points, or 0.23 per cent, higher at 25,482.50. The Sensex ended up 50.15 points, or 0.06 per cent, at 82,276.07.

Analysts said that the 25,400 level is acting as immediate structural support, while the 25,600-25,650 zone, aligned with the 50- and 100-day EMAs, remains a strong resistance cluster capping upside attempts.

"A decisive break below 25,300 may accelerate selling pressure toward 25,250-25,150, which aligns with the 200-day EMA," an expert stated.

"On the upside, a sustained breakout above 25,650 would be required to trigger short covering and potentially extend gains toward the 25,800-26,000 zone," analyst added.

On the Sensex, Reliance Industries was the biggest drag, falling 2.23 per cent. Shares of State Bank of India, Eternal, Bharti Airtel, ITC, HDFC Bank and Bajaj Finance were also among the major losers.

On the gaining side, HCL Tech led the rally with a 2.8 per cent rise. Tata Steel, TCS, Indigo, Sun Pharma and Mahindra & Mahindra were also among the top gainers, supporting the overall market.

Broader markets performed better than the main indices. The Nifty MidCap 100 rose 0.58 per cent, while the Nifty Smallcap 100 gained 0.96 per cent.

Among sectoral indices, the Nifty Metal was the top performer of the day. It was followed by gains in the Nifty Pharma and the Nifty IT indices.

On the other hand, the Nifty PSU Bank index declined the most during the session.

Experts said that despite volatility and selling pressure in select heavyweights, positive momentum in metals and IT stocks helped the indices end the day in the green.

"Despite a positive start, benchmark indices gradually pared early gains as profit booking at higher levels weighed on sentiment," an analyst mentioned.

- IANS

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Reader Comments

P
Priya S
As a long-term investor, these small daily movements don't bother me. The important thing is that the broader market (MidCap & SmallCap) is showing strength. That's where the real growth story is for India. Holding my Tata Steel and TCS shares.
A
Aman W
Profit booking at higher levels is so typical. The moment Nifty tries to cross 25,600, everyone starts selling. Need a strong global cue or a big domestic announcement for a clean breakout.
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Sarah B
Interesting analysis on the support and resistance levels. For a new investor like me, it's helpful to understand these technical terms. The expert commentary about 25,300 and 25,650 gives a clear picture of where we might be headed next.
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Vikram M
PSU banks underperforming again. When will this sector revive? It's been a laggard for so long. On the bright side, pharma doing well is a good sign. Sun Pharma has been a steady performer in my portfolio.
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Karthik V
A green close is a green close, even if it's small. In this volatile global environment, our markets holding their ground is commendable. Jai Ho Indian markets! 📈 The metal rally seems promising, might add some exposure.
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Nikhil C

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