Business News | Stock Market Ends in Red, Second Week in a Row; Sensex Falls 424 Points, Nifty Down 149 Points
Get latest articles and stories on Business at LatestLY. Among Nifty 50 companies, only 13 stocks advanced, while 37 declined. The top gainers included Hindalco, Tata Steel, Eicher Motors, Larsen & Toubro (LT), and SBI Life, whereas Mahindra & Mahindra (M&M), Adani Ports, BPCL, Tata Motors, and Adani Enterprises emerged as the biggest losers.
Mumbai (Maharashtra) [India], February 21 (ANI): The Indian stock market ended the week on a weak note, with the Sensex declining 424.90 points to close at 75,311.06, while the Nifty fell 149.95 points, settling at 117.25.
Persistent concerns over global economic conditions and foreign institutional investor (FII) outflows weighed on investor sentiment.
Among Nifty 50 companies, only 13 stocks advanced, while 37 declined. The top gainers included Hindalco, Tata Steel, Eicher Motors, Larsen & Toubro (LT), and SBI Life, whereas Mahindra & Mahindra (M&M), Adani Ports, BPCL, Tata Motors, and Adani Enterprises emerged as the biggest losers.
Vinod Nair, Head of Research at Geojit Financial Services, stated that the domestic market continued to exhibit broad-based weakness, primarily influenced by investor concerns over the hawkish tone of the U.S. Federal Open Market Committee (FOMC) minutes.
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He said, "The indication of prolonged higher interest rates in the U.S. has raised fears of constrained liquidity in emerging markets like India, which in turn is impacting market sentiment. The correction seen in the market so far has been healthy, but uncertainties surrounding the gradual recovery of corporate earnings and ongoing tariff-related risks continue to raise doubts about valuation levels, particularly in the broader market space."
He further added, "India is currently lagging behind its Asian peers, primarily due to persistent FII outflows. The 'sell India, buy China' strategy remains a key theme in the global investment landscape, as investors are shifting their focus towards China, where valuations are more attractive and economic stimulus measures are being introduced. Until these headwinds subside, Indian markets are expected to remain under pressure, with volatility continuing in the near term."
With global economic uncertainties persisting and foreign investors reallocating funds, Indian markets may continue to witness near-term volatility. Market participants will closely track US economic data, corporate earnings, and policy decisions to assess potential market movements in the coming weeks. (ANI)
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