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Market Update

Nifty : 22,124.70 -420.35 (-1.86%)

Sensex : 73,198.10 -1414.33 (-1.90%)

• The equity benchmark Sensex plummeted by over 1,400 points, and the Nifty closed at a 9-month low, falling below the 22,200 mark, due to widespread selling in the market. This decline was triggered by the recent announcement from the US government of an additional 10% tariff on Chinese goods, which rattled investors. The drop was further fueled by concerns over the upcoming 25% tariff on US imports from Canada and Mexico, set to begin next week, along with ongoing foreign institutional investor (FII) selling and a record-high USDINR. These factors negatively impacted the market. Global markets, including those in India, Asia, and Europe, fell by 1-3% as US President Donald Trump's tariff threats and disappointing Nvidia earnings dampened investor sentiment. The sharp sell-off in today's session, February 17, led both Nifty 50 and Sensex to record their worst intraday performance of the year.

• The escalating trade tensions led to a surge in investor sell-offs, causing a sharp decline in stock prices and erasing substantial market value. The Sensex dropped by 1,414 points, or 1.90%, closing at 73,198. The Nifty also extended its losing streak for the eighth consecutive day, falling by 420 points, or 1.90%, to end at 22,124. IT stocks were the biggest losers, with the Nifty IT index dropping as much as 4%, following overnight losses on Wall Street due to a sharp decline in chipmaker Nvidia. Major IT stocks like TCS, Infosys, Persistent Systems, Tech Mahindra, and Mphasis saw losses between 3-8%. Other sectoral indices, including Nifty Auto, Bank, Metal, Pharma, Consumer Durables, and Oil & Gas, fell between 2-4%

• February was a tough month for Indian equities, with the Sensex closing over 4,000 points lower, marking a 5% loss. The total market capitalization of BSE-listed companies dropped by over Rs 40 lakh crore in just one month. The Nifty also suffered its longest losing monthly streak since its inception in 1996, marking its fifth consecutive month of losses.

Technical Outlook:

* Nifty index opened gap down by more than 100 points and cascaded as weakness persisted till the end of the day. Index broke its crucial support zones and closed with losses of around 420 points near its lower band.

* It formed a bearish candle on daily and weekly frame and gave the lowest closing of the last twelve months. Index has wiped off almost 4200 points in the last five months as we conclude February on account of dampened global cues. Now till it holds below 22200 zones, weakness could be seen towards 22000 then 21800 zones whereas hurdles are placed at 22500 then 22600 zones.

Derivative Outlook:

* Nifty future closed negative with losses of 1.81% at 22272 levels. Positive setup seen in Coal India, HDFC Bank, Shriram Finance, AU Bank, JSW Energy, Axis Bank, Indigo and Hindalco while weakness in BSE, Granules, MCX, Jubilant Food, OIL India, Jio Finance, Tech Mahindra, Birla soft, Concor, Mphasis, Indusind Bank and Wipro.

* On option front, Maximum Call OI is at 22500 then 23000 strike while Maximum Put OI is at 21800 then 22000 strike. Call writing is seen at 22500 then 22300 strike while Put writing is seen at 21800 then 22000 strike. Option data suggests a broader trading range in between 21700 to 22700 zones while an immediate range between 22000 to 22400 levels.

* Oriana Power inks pact with govt of Assam - Company has signed a MoU with the New and Renewable Energy Department, Government of Assam, during the Investment and Infrastructure Summit 2025 in Guwahati. This MoU aims to develop solar and battery energy storage system (BESS) projects in the Kamrup district with an investment of Rs 500 crore.

* Asian Granito India Forms New Subsidiary in Dubai – Company has incorporated a subsidiary company in Dubai named AGL Surfaces Trading.

* NCC- Company has received board approval for an equity investment of Rs70cr in its wholly-owned subsidiary NCC Quantum Technologies. The equity investment is for the execution of and investment in advanced.

* metering infrastructure service provider projects.

*PSP Project – Company got seven construction orders worth Rs1764cr primarily from the Adani group companies.

* Solar Industries – Company fully redeemed commercial paper worth Rs50cr on its maturity date of Feb. 27.

Global Market Update

* European Market - European stocks fell, extending their declines amid a global selloff sparked by the latest US trade tariff announcements. UK, Germany and France Index declined upto 0.5%.

* Asian Market – Asian equities slumped, on track to snap their longest weekly winning streak in nearly a year, as US President Donald Trump’s latest tariff threats and underwhelming Nvidia results damped investor sentiment. Both Hong Kong and Japan index declined 3% each while China, Australia, Taiwan Index slipped upto 2%.

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