The Indian stock market saw a mixed week, with broader indices facing selling pressure. However, several F&O stocks outperformed. Leading the gainers was APL Apollo, which climbed 14.29% to close at ₹1,489.20. JSW Energy followed, gaining 13.61% to settle at ₹496.60, while Manappuram Finance rose 13.01%, ending at ₹201.32.
Other notable gainers included KEI Industries, which surged 12.69% to ₹3,844.45, BSE Limited, advancing 12.44% to ₹5,757.80, and CESC, which posted an 11.77% weekly gain to close at ₹136.56.
Weekly Performance of Top F&O Gainers
| Stock | Closing Price (Feb 21) | Weekly Gain (₹) | Change (%) |
|---|---|---|---|
| APL Apollo | ₹1,489.20 | ₹186.15 | +14.29% |
| JSW Energy | ₹496.60 | ₹59.50 | +13.61% |
| Manappuram Fin | ₹201.32 | ₹23.17 | +13.01% |
| KEI Industries | ₹3,844.45 | ₹432.80 | +12.69% |
| BSE Limited | ₹5,757.80 | ₹637.25 | +12.44% |
| CESC | ₹136.56 | ₹14.38 | +11.77% |
Brokerage Updates on Key Stocks
- JSW Energy: JP Morgan initiated an Overweight rating with a target price of ₹545 per share, driven by growth in renewable energy and strategic expansions.
- KEI Industries: Morgan Stanley initiated an Overweight rating with a target price of ₹4,391 per share, citing strong demand for electrical cables and infrastructure expansion.
- APL Apollo: UBS maintained a Buy rating with a target price of ₹2,000 per share, highlighting leadership in structural steel tubes and ongoing capacity expansions.
Market Commentary: Indices end on a weak note
The Sensex dropped 420 points, while the Nifty fell below 22,800, closing at 22,795.90 (-0.51%).
Sector-wise, Nifty Metal was the only sector to end positive, gaining over 1%. However, Nifty Auto tumbled 2.5%, as concerns over Tesla’s India entry and potential import duty cuts on EVs pressured stocks like Mahindra & Mahindra, Tata Motors, and TVS Motors.
Bajaj Broking Market Commentary (Feb 21, 2025 Closing)
Nifty remained under pressure, closing at 22,795.90, marking its lowest close of 2025. The broader market underperformed, with Nifty Midcap 100 falling 1.32% and Nifty Small Cap 100 declining 0.7%.
Technical Outlook:
- The Nifty formed a bearish candle, breaking the last three-day low, signaling the continuation of the bearish trend.
- The 22,700 support level remains crucial, with a breakdown likely leading to further declines towards 22,500-22,400.
- If Nifty holds above 22,700, a consolidation within the 22,700-23,050 range is expected in the coming week.
Bank Nifty Outlook
- Bank Nifty closed at 48,981, forming a bearish red candle.
- The index is consolidating within the 48,500-49,650 range, and a breakout on either side will determine future moves.
- The 50-day EMA resistance is near 50,000, while key support is placed at 48,500-48,300.
Market Commentary from Asit C. Mehta Investment Intermediates (Feb 21, 2025 Closing)
“Nifty opened with a gap-down, faced selling pressure, and settled lower at 22,796. The volatility index (India VIX) cooled off by 1.03%, indicating reduced market fluctuations.
- Technical Take: On the daily chart, Nifty formed a small red candle, while on the weekly scale, it formed a doji, reflecting uncertainty.
- Broader market performance: Nifty Smallcap 100 and Nifty Midcap 100 formed green candles on the weekly chart, indicating strong demand.
- Support & Resistance: The 22,700 level remains a strong demand zone, while the 21-day Simple Moving Average (DSMA) at 23,200 is the next resistance level.
Bank Nifty also saw a gap-down opening, closing at 48,981, and forming a bearish red candle. The 48,500-49,650 range remains crucial, with a breakout on either side likely to determine future movements.”
