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Share Market Ends Range-Bound: Sensex Rises 173 Points, Nifty Above 25,700; PSU Banks Outperform
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The BSE Sensex rises 173.81 points or 0.21% to close at 83,450.96, while the NSE Nifty inches up by 42.65 points or 0.17% to end the day above the 25,700 level at 25,725.40.
Stock Market Today.
Stock Market Today: Indian equities ended February 16 on a mildly positive note as benchmark indices moved in a narrow range, as participants refrained from aggressive positioning in the absence of strong domestic triggers and amid mixed global cues. This is the second day in a row when markets managed to close in green. The BSE Sensex rose 173.81 points or 0.21% to close at 83,450.96, while the NSE Nifty inched up by 42.65 points or 0.17% to end the day above the 25,700 level at 25,725.40.
The Bank Nifty rose 0.37% to 61,174, remaining close to its 52-week high of 61,764, aided by strength in select banking heavyweights.
Broader Markets Outperform
The broader market space extended its outperformance versus frontline indices, indicating sustained risk appetite. The Smallcap 100 gained 0.56%, Microcap 250 advanced 0.99%, and MidSmallcap 400 rose 0.44%.
Sectoral Trends Mixed; PSU Banks Lead
Sectoral performance remained scattered, with clear stock-specific action rather than a broad-based trend. The PSU Bank index jumped 2.11%, emerging as the session’s top gainer and inching closer to its yearly peak, pointing to renewed buying interest in state-run lenders. IT stocks climbed 1.03%, extending their rebound, while FMCG added 0.90%, supported by defensive buying.
Metals Drag; Realty, Oil & Gas Slip
On the losing side, metal stocks declined 1.06%, making the pack’s weakest performer, likely due to global commodity caution and profit booking after recent rallies. Oil & Gas and Realty indices also closed marginally lower.
Volatility Eases Further
Market volatility softened, with India VIX falling 4.93% to 12.67, signalling reduced hedging activity and relatively calm trader sentiment.
What Analysts Say
Vinod Nair, head of research, Geojit Investments Ltd, said, “Domestic markets traded in a range-bound manner, attempting to recover recent losses triggered by lingering concerns over AI-led disruptions. The IT sector, following a sharp correction, witnessed selective bottom-fishing, aided by announcements of strategic collaborations with global AI partners. Meanwhile, PSU banks outperformed the broader indices, supported by positive Q3 results and favourable regulatory tailwinds.”
In the near term, sentiment is likely to remain cautious as investors monitor global developments around AI-driven shifts. However, a resilient GDP outlook, and a stabilising rupee may provide support to renewed FII inflows, he added.
Nilesh Jain, vice-president and head of technical and derivative research at Centrum Finverse Ltd, said, “The Nifty extended its upward momentum for the second straight session, successfully filling Friday’s gap. It closed above its 100-DMA near 25,700, indicating improving strength. However, the index faced resistance around the 50-DMA placed at 25,750, a decisive breakout above this level could pave the way for further upside towards 26,000. On the downside, immediate support has shifted higher to 25,600. Meanwhile, India VIX cooled off sharply, declining by nearly 5% to slip below the 13 mark.”
Any further easing in volatility is likely to remain supportive of bullish sentiment. Overall, the broader structure continues to look positive, and a buy-on-dips approach should be maintained as long as the Nifty holds above the 25,400 zone, he added.
Ponmudi R, CEO of Enrich Money, a SEBI – registered online trading and wealth tech firm, said, “Indian equity markets traded with a mildly positive yet cautious undertone, as participants refrained from aggressive positioning in the absence of strong domestic triggers and amid mixed global cues The banking space once again acted as a structural pillar, stabilising the broader indices during intraday volatility. The IT sector witnessed selective bargain buying and short-covering, leading to a measured recovery. While this rebound does not yet signal a confirmed trend reversal, it increases the probability of an early-stage bottom formation — a development worth monitoring closely in the coming sessions.”
Market participants continue to await clear external catalysts before committing to the next decisive directional move. On the macro front, the rupee remained broadly stable, reflecting balanced dollar demand and the absence of currency-led stress. Steady domestic liquidity flows continue to cushion downside risks, reinforcing the underlying resilience of the market structure, he added.
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