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Indices Extend Losses, Defensive Stocks Outperform; Inox India & 360 One WAM in Focus
Indices Extend Losses, Defensive Stocks Outperform; Inox India & 360 One WAM in Focus
Written by - Fisdom Research
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February 24, 2025
2 minutes
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Market Snapshot
Benchmark indices fell for the fifth consecutive session on February 24, dragging the Nifty 50 to its lowest level in the last eight months.
IT, Realty, and Telecom stocks led the decline amid weak global market cues.
The market opened on a negative note and extended losses, pulling the Nifty 50 near 22,500 before some recovery.
Auto, Pharma, and FMCG stocks provided support, helping the market regain some ground.
Sectoral performance: Except for Auto, Pharma, and FMCG, all other indices ended in the red. IT, Metal, and Telecom indices fell 2% each. The Nifty IT index has now dropped in 11 out of the last 12 sessions, continuing its downward trend..
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY FMCG
0.4
NIFTY PSU BANK
-0.3
NIFTY AUTO
0.2
NIFTY CONSUMER DURABLES
-0.3
NIFTY PHARMA
0.0
NIFTY PRIVATE BANK
-0.4
NIFTY HEALTHCARE INDEX
-0.2
NIFTY BANK
-0.7
Top News
Capital market stocks declined on February 24, dragging the Nifty Capital Markets index down by over 1%, but 360 One WAM surged nearly 6% ahead of its inclusion in the FTSE All-World Index from March 21.
Nifty and Sensex hit eight-month lows amid a global sell-off, but pharma and FMCG stocks remained resilient as investors shifted focus to defensive sectors due to heightened market volatility.
Inox India fell 2% despite becoming India’s first cryogenic equipment manufacturer to receive the IATF 16949 certification, a key quality standard for automotive OEM suppliers.
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
22,300
22,800
Bank Nifty
48,800
49,400
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
M&M
1.5
WIPRO
-3.7
DRREDDY
1.1
HCLTECH
-3.4
EICHERMOT
1.1
TCS
-3.0
Trade Ideas Update
Our trade ideas success rate has 60% over the past month, even with increased volatility in the benchmark index. Follow Trade Ideas for timely stock insights.
