This is how analysts read the market pulse:
Rupak De, Senior Technical Analyst at LKP Securities highlighted that Nifty has been in retreat for a long time due to the market debacle. The index has fallen sharply below the 21EMA and is now finding support at 200DMA, he said.
“Going forward, the index is likely to remain within the 25,300-25,750 range; that is, it could swing within a 450-point range amid heightened volatility. The India VIX has remained high, which may keep investors on edge. However, until the 25,300 level is breached decisively, a meaningful rebound could take place. Hence, long trades can be considered with a stop loss below 25,300,” De added to.
American markets
U.S. stock indexes moved higher on Tuesday, boosted by technology stocks, as investors weighed Anthropic’s announcement of new AI tools and President Donald Trump’s changing stance on trade policy.
Artificial intelligence lab Anthropic has announced 10 new ways for enterprise customers to connect its technology to key areas of their work, weeks after its earlier releases sparked a sell-off in traditional software stocks.
The S&P 500 software and services index climbed 0.5%, recouping some losses. So far this year, the sector is down 23.5% as the industry grapples with fears of AI disruption.
Advanced Micro Devices rose 6.7% after the chipmaker said it had agreed to sell $60 billion worth of AI chips to Meta Platforms over five years.
European markets
Major European indices were trading at discounts around 11:41 a.m. GMT (5:27 p.m. Indian time). Spain’s IBEX was the biggest loser, down 0.7% around this time, while Britain’s FTSE 100 and Germany’s DAX traded with small declines of up to 0.1%.
The French CAC 40 and Stoxx 600 were flat, although the bias was positive.
Technical view
Decoding the technical charts, Ajit Mishra, Senior Vice President – Research at Religare Broking, said a decisive break below the 25,400 zone could trigger the next leg of decline towards 25,245, which coincides with the 200 DEMA, followed by a major support area around 25,100. According to him, 25,400 is a crucial support level that has been tested in current trading.
“On the upside, the 25,600-25,800 zone is likely to act as an immediate hurdle in case of any recovery. Amid the prevailing volatility and weak global cues, participants are advised to remain selective, keep position sizes small and focus on relatively stronger parts of the market,” Mishra said.
Most active stocks in terms of turnover
Larsen & Toubro (L&T, Rs 869 crore), Infosys (Rs 207 crore), Eternal (HAL, Rs 182), State Bank of India (SBI, Rs 107 crore), Tata Consultancy Services (TCS, Rs 105 crore) and Natco Pharma (Rs 97 crore) were among the most active stocks by value on BSE. Higher activity in a counter in terms of value can help identify the counters with the highest trading turnover per day.
Most active stocks by volume
Vodafone Idea (shares traded: Rs 2.73 crore), SpiceJet (shares traded: Rs 2.70 crore), IDFC First Bank (shares traded: Rs 1.79 crore), Ola Electric (shares traded: Rs 1.24 crore), Eternal (shares traded: Rs 71.42 lakh), Bank of Maharashtra (shares traded: Rs 54.51 lakh) and Morepen Laboratoria (shares traded: Rs 2.70 crore). 49.32 lakh) were among the most actively traded stocks on BSE by volume.
Stocks that show buying interest
NTPC, Coal India, One Mobikwik, Natco Pharma, DEE Development Engineers, AVG Logistics and Utkarsh Small Finance Bank were among the stocks that witnessed strong buying interest from market participants.
52 Week High
Today, 91 stocks hit their 52-week highs, while 357 stocks fell to their 52-week lows. Among those that hit 52-week highs were Acutaas Chemicals, Astral, Bajaj Consumer Care, Bank of India, Federal Bank, ICICI Prudential Asset Management Company, Jindal Steel and NTPC.
Stocks see selling pressure
Among the large cap names were Tech Mahindra, HCL Technologies and Eternal. Other stocks that witnessed significant selling pressure were TAC Infosec, Signatureglobal, Yatra Online, Cartrade Tech, VL E-Governance & IT Solutions, Le Travenues Technology and L&T Technology Services.
Sentiment meter favors bears
Heavyweights like HDFC Bank, L&T and Infosys dragged the markets the most as breadth remained negative in the markets as a whole. Of the 4,367 stocks traded on the BSE on Tuesday, February 24, 1,344 stocks witnessed gains, 2,889 declined while 134 stocks remained unchanged.
(Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of Economic Times)
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