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Markets Flat: Expiry Day Jitters, Global Woes Weigh
26 Feb
Summary
- Sensex closed down 27.46 points, Nifty gained 14.05 points on Feb 26.
- Broader market shows strength, Nifty Midcap 100 gained 0.66%.
- Defence agreements with Israel and US-Iran talks add market uncertainty.
On Thursday, February 26, Indian equity markets concluded with minimal changes, influenced by monthly futures and options expiry. The benchmark Sensex registered a slight decline of 27.46 points, closing at 82,248.61, while the Nifty 50 saw a marginal uptick of 14.05 points, ending at 25,496.55. This consolidation occurred within a tight intraday range, reflecting a lack of strong directional momentum. Technical analysts noted buying interest near support levels but highlighted the need for a sustainable move above 25,660 for a significant rally.
The broader market presented a more optimistic picture, with the Nifty Midcap 100 index outperforming by gaining 0.66%. Conversely, banking and FMCG stocks were among the weaker performers, alongside Media. Defensive sectors like Healthcare, Pharma, and Defence saw gains. This divergence underscores a selective market sentiment, with specific sectors showing resilience while others lagged.
Market sentiment was further shaped by external factors. Reports regarding the winding down of the Reserve Bank of India's liquidity support measures by March added to caution. Global events, including ongoing US-Iran nuclear negotiations and anticipated defence agreements between India and Israel, were closely watched. These geopolitical and diplomatic developments are expected to influence market direction in the near term, alongside domestic demand themes.
