The Indian stock markets closed the week on a weak note, with both Sensex and Nifty finishing in the red. The BSE Sensex dropped 0.56% to settle at 75,311.06, while the Nifty slipped 0.65% to end at 22,764.10.
“The domestic market continued to exhibit broad-based weakness, primarily influenced by investor concerns over the hawkish tone of the FOMC minutes, which signalled prolonged higher interest rates that could constrain liquidity in EMs. Although the market has undergone a healthy correction, the uncertainties surrounding the gradual recovery of corporate earnings and ongoing tariff-related risks continue to cast doubt on valuation levels, particularly in the broader market. India is currently lagging behind its Asian peers, as FII outflows remain high, with the “sell India, buy China” strategy continuing to yield returns for the time being,” said Vinod Nair, Head of Research, Geojit Financial Services.
From the Sensex pack, the major gainers were Tata Steel, LT, HCL Tech, Asian Paints and HDFC Bank. On the other hand, the laggards were M&M, Adani Ports, Tata Motors, Sun Pharma, and PowerGrid.
Sectoral Performance: Auto stocks under pressure
The Nifty Auto index was the worst performer of the day, declining over 2% due to losses in major auto stocks like Mahindra & Mahindra (M&M), Tata Motors, and Maruti Suzuki. The sector has been under pressure this month, falling nearly 6% in February.
On the other hand, Nifty Metal was the only sectoral index to trade in the green, bucking the broader market trend.
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Apart from auto stocks, selling pressure was also seen in Nifty Pharma, Nifty Healthcare Nifty PSU Bank. Each of these indices fell over 1%, adding to the market’s weak sentiment.
Gold rate today
According to Goodreturns, the cost of gold today stands at Rs 8,775 per gram for 24 carat gold, Rs 8,025 per gram for 22 carat gold, and Rs 6,566 per gram for 18 carat gold.
For those looking at larger quantities, the 22 carat gold rate today is Rs 80,250 for 10 grams,
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