Nifty IT Falls 4%, HDFC Bank Gains, Coal India Rises on Levy News
Written by - Fisdom Research
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February 28, 2025
2 minutes
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Market Snapshot
The Sensex and Nifty tumbled nearly 2% on February 28, erasing Rs 8.8 lakh crore in market capitalization amid fears of a global trade war and U.S. economic slowdown.
All 13 sectoral indices plunged, with BSE Smallcap and Midcap falling over 2%.
IT and financial stocks led the losses, while Auto, FMCG, PSU Bank, Healthcare, Oil & Gas, and Media indices dropped 2-4%.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY FINANCIAL SERVICES
-0.6
NIFTY REALTY
-1.4
NIFTY BANK
-0.8
NIFTY MIDSMALL HEALTHCARE
-1.8
NIFTY PRIVATE BANK
-0.9
NIFTY PHARMA
-1.9
NIFTY METAL
-1.4
NIFTY HEALTHCARE INDEX
-2.2
Top News
The Nifty IT index sank nearly 4% for the seventh session as US tariff threats and Nvidia’s results hit sentiment. Persistent Systems and Tech Mahindra fell 5%, while Wipro, Coforge, and Mphasis lost over 4%.
HDFC Bank gained about 2 percent today continuing to enjoy gains with the RBI’s latest move to lower risk weights.
Coal India rose 2% after its unit, NCL, announced a ₹300/tonne levy from May 2025, expected to add ₹3,877.5 crore in revenue, boosting sentiment.
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
SHRIRAMFIN
2.0
INDUSINDBK
-7.1
HDFCBANK
1.7
TECHM
-6.4
COALINDIA
1.3
WIPRO
-5.4
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