| Company | Value | Change | %Change |
|---|
The Nifty faced relentless selling pressure throughout the trading hours. Though it managed to claw back 50 points from its intraday low of 23,316, the index still shed 178 points, or 0.76%, to settle at 23,381.6. Trading volumes in the NSE cash market witnessed a significant slump, falling 17% below the average to touch their lowest levels of 2025.
Selling pressure returned in the broader markets, with midcaps underperforming large caps. The midcap index slipped more than 2%, compared to a 1% decline in the Sensex and Nifty. The midcap index fell 1,138 points to end at 52,471.
The Nifty500 index, which accounts for about 90% of the country’s market capitalisation declined 1.4% on February 10 trade with both midcap and smallcap indices falling 2.2% each.Small and midcap stocks bore the brunt in today’s sell-off. Among the Nifty500 constituents, virtually all stocks have lost value with nearly half of them losing over three-fourths of their value.
Nearly 40 Nifty stocks closed in the red, with some falling as much as 5%.
The US tariff announcement dragged down metal stocks, with the Nifty Metal Index falling 3% after US President Donald Trump announced fresh tariffs on imported steel and aluminum. Vedanta and SAIL, both down over 4.5%, were the biggest losers in the first half of Monday’s trade.
Peers like Tata Steel, NALCO, JSW Steel, and Hindalco Industries fell between 1.5% and 3.3%. Tata Steel and JSW Steel were also among the worst-performing Nifty50 stocks on Monday.
Retail giant Trent Ltd. emerged as the day’s biggest laggard, with its shares taking a substantial hit of 4.7%.
Foreign portfolio investors (FPIs) continue to offload Indian shares, citing rich valuations and slowing economic growth. Overseas investors have withdrawn nearly $22 billion from the market on a net basis since the end of September last year, with this year’s sale tally approaching the $10 billion mark.
Foreign investors turned net sellers in cash market on Monday, while domestic institutional investors were net buyers.
What do the Nifty 50 charts indicate?
The decline continues in the headline index as it has been falling after forming a lower top on the daily chart. Sentiment has weakened further after Nifty dropped below the 21EMA. Additionally, the RSI has entered a bearish crossover.
“In the short term, the trend may worsen below 23,350, with the potential to fall toward 23,000 if it sustains below this level. On the higher end, resistance is seen at 23,550,” said Rupak De, Senior Technical Analyst at LKP Securities.
Nagaraj Shetti of HDFC Securities said the underlying trend of the Nifty remains negative. “A slide below the next support of 23220, the bullish chart pattern like higher tops and bottoms could get nullified and that could have more negative impact on the market.”
Having moved below the crucial supports of 23,400, one may expect the market to slide down to 23,200 and lower in the short term. Immediate resistance is placed at 23,500 levels, Shetti added.
What do the Nifty Bank charts indicate?
The Nifty Bank continues to trade within a tight consolidation phase, currently hovering just above the breakout level of the Double Bottom pattern. With the index struggling below its 50- & 200-day EMAs, upward momentum remains capped, while sustained selling pressure at higher levels further dampens bullish sentiment.
The index faces stiff resistance at 50,500–50,600, where fresh call writing has intensified. Meanwhile, 49,900–49,650 remains a crucial support zone, actively defended by aggressive put writers. Unless the index decisively breaks out of this congestion zone, a range-bound trading strategy is expected to dominate. A clear breakout in either direction will determine the index’s trajectory for the coming sessions.
Here are the stocks to watch ahead of Tuesday’s trading session:
– ONGC: Signs Contract With bp To Enhance Production From Mumbai High Field
– Apollo Hospitals: Q3 Earnings In-line, Apollo Healthco +EBITDA For 5th straight Qtr
– NALCO: Q3 Above Street Est, Margin At 50% Vs 23% (YoY)
– Nykaa: Overall GMV Up 25%, Beauty Biz Revenue Rises 27% YoY
– Patanjali: EBITDA Up 57%, Margin At 5.9% Vs 4.3% (YoY)
– Ashoka Buildcon: Ebitda Up 7%, Margin at 26.8% Vs 22.5% (YOY)
– Lupin: US FDA Approval For Its ANDA Ipratropium Bromide Nasal Solution
– RVNL: Lowest Bidder For A South Western Railway Project Worth `335.4 Cr
– Insecticides India: EBITDA Up 18.8%, Margin At 8.6% Vs 7.3% (YoY)
– MTAR Tech: EBITDA Up 38.5%, Revenue Rises 47.3% YoY
– Shriram Props: Joint Dvpt Agmt For A Land In Chennai, Rev Potential `350 – 400 Cr
– Balmer Lawrie: EBITDA Up 14%, Margin At 13.3% Vs 12.6% (YoY)
– GSFC: EBITDA Up 47.2%, Revenue Rises 40.2% YoY
– Force Motors: EBITDA Up 3.2%, Net Profit Rises 35% YoY
– Sansera Engg: EBITDA Up 5.3%, Margin At 17.5% Vs 16.9% (YoY)
– IRB Infra: Jan Toll Collection Up 20% YoY At `560 Cr
– Mankind: To Sell Mahananda Spa To Chalet At EV Of `530 Cr To Pare Debt
– BLS E-Services: EBITDA Up 52%, Revenue Rises 79% YoY
– Signature Global: 87% Of Pre-sales Guidance For FY25 Achieved
– Hindalco: Weak Q3FY25 Results
– Eicher Motors: Q3 Misses Estimates, Margin At A 7-quarter Low
– Grasim: EBITDA Down 48%, Margin At 3.3% Vs 8.2% (YoY)
– Bata: Muted Revenue Growth, PAT Impacted By One-time VRS Expense
– Escorts Kubota: Weak Q3 Earnings, Muted Guidance
– Neuland Labs: EBITDA Down 29%, Margin At 21.7% Vs 31% (YoY)
– Galaxy Surfactants: EBITDA Down 6%, Margin At 10.1% Vs 12% (YoY)
– ESAF SFB: Loss Vs Profit YoY, NII Down 18.4% QoQ
– Elgi Equip: EBITDA Down 7.7%, Margin At 14.1% Vs 15.8% (YoY)
