The Indian stock market saw a volatile week, with broader indices struggling under selling pressure. Among the top F&O losers, Mahindra & Mahindra (M&M) led the decline, dropping 9.29% to close at ₹2,669.35. Biocon followed, slipping 7.69% to ₹322.50, while Oracle Financial Services lost 6.23%, ending at ₹8,405.00.
Other notable losers included City Union Bank, which fell 5.92% to ₹150.98, Adani Energy, which declined 5.29% to ₹670.95, and Indiamart Intermesh, which slid 4.80% to ₹2,022.70.
Weekly Performance of Top F&O Losers
| Stock | Closing Price (Feb 21) | Weekly Loss (₹) | Change (%) |
|---|---|---|---|
| M&M | ₹2,669.35 | ₹273.25 | -9.29% |
| Biocon | ₹322.50 | ₹26.85 | -7.69% |
| Oracle Fin Serv | ₹8,405.00 | ₹557.95 | -6.23% |
| City Union Bank | ₹150.98 | ₹9.50 | -5.92% |
| Adani Energy | ₹670.95 | ₹37.45 | -5.29% |
| Indiamart Inter | ₹2,022.70 | ₹101.90 | -4.80% |
Market Commentary: Indices end on a weak note
The Sensex fell 420 points, while the Nifty dropped below 22,800, closing at 22,795.90 (-0.51%).
Among sectoral indices, Nifty Auto saw the biggest decline, plunging 2.5%, as reports of a potential import duty cut on EVs from 110% to 15% spooked investors. Mahindra & Mahindra, Tata Motors, and TVS Motors led the losses in the auto sector, fearing increased competition from Tesla’s India entry.
Bajaj Broking Market Commentary (Feb 21, 2025 Closing)
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 downtrend.
- 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 next 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 at 48,500-48,300.
Market Commentary from Asit C. Mehta Investment Intermediates (Feb 21, 2025 Closing)
“Nifty opened gap-down, faced selling pressure, and settled 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.”
