The Indian stock market witnessed a volatile week, with the broader indices facing pressure. However, several midcap stocks delivered strong gains. Leading the charge was Godrej Industries, which surged 41.31% to close at ₹1,131.50. GlaxoSmithKline followed, posting a 24.32% weekly gain at ₹2,508.70, while NLC India saw an increase of 15.18%, ending the week at ₹223.78.
Other notable gainers included APL Apollo, which jumped 14.29% to ₹1,489.20, JSW Energy, climbing 13.61% to ₹496.60, and JSW Infra, which advanced 13.48% to close at ₹259.30.
Weekly Performance of Top Midcap Gainers:
| Stock | Closing Price (Feb 21) | Weekly Gain (₹) | Change (%) |
|---|---|---|---|
| Godrej Industries | ₹1,131.50 | ₹330.80 | +41.31% |
| GlaxoSmithKline | ₹2,508.70 | ₹490.70 | +24.32% |
| NLC India | ₹223.78 | ₹29.50 | +15.18% |
| APL Apollo | ₹1,489.20 | ₹186.15 | +14.29% |
| JSW Energy | ₹496.60 | ₹59.50 | +13.61% |
| JSW Infra | ₹259.30 | ₹30.80 | +13.48% |
Market Commentary: Indices end on a weak note
The market struggled throughout the week, ending on a negative note on Friday. The Sensex dropped 420 points, while the Nifty slipped below the 22,800 mark, closing at 22,795.90 (-0.51%).
Sectoral indices faced pressure, with 12 of the 13 major indices closing in the red. Nifty Metal was the only sector to post gains, rising over 1%. However, Nifty Auto plunged 2.5%, weighed down by concerns over a potential reduction in import duties on electric vehicles (EVs), which could pave the way for Tesla’s entry into the Indian market. Leading the declines were Mahindra & Mahindra, Tata Motors, and TVS Motors.
Bajaj Broking Market Commentary (Feb 21, 2025 Closing)
Nifty traded with a negative bias and ended 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 index is now hovering near its key support zone of 22,700. A breakdown below this level could trigger further declines toward 22,500-22,400.
- If Nifty holds above 22,700, it could consolidate within the 22,700-23,050 range in the coming week.
Bank Nifty Outlook
- Bank Nifty closed lower at 48,981, forming a bearish candle.
- The index remains in a consolidation range of 48,500-49,650, and a breakout on either side will determine the next major move.
- The 50-day EMA resistance is around 50,000, while key support lies at 48,500-48,300, aligned with the bullish gap from January 28, 2025.
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 has formed a small red candle, while on the weekly scale, it has 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 witnessed a gap-down opening, closed at 48,981, and formed a bearish red candle. The 48,500-49,650 range remains crucial, with a breakout on either side likely to determine future movements.”
