The Indian stock market opened on February 27, 2025, reflecting cautious sentiment, with benchmarks moving on mixed global cues. Early trading data showed the BSE Sensex up by just 9.44 points or 0.01%, sitting at 74,592.68, and the Nifty 50 edged higher by 6.30 points or 0.03%, landing at 22,553.85 as of 9:31 AM.
Investor interest was particularly noted within the financial services and metal sectors during the early trade. The Nifty Bank index observed a gain of 218.90 points or 0.45%, reaching 48,827.25. Nonetheless, the broader market saw fluctuations, with the Nifty Midcap 100 slipping by 59.15 points or 0.12% to settle at 49,643 and the Nifty Smallcap 100 reflecting declines of 54.10 points or 0.35%, closing at 15,354.50.
Market analysts have pinpointed key technical levels to watch for the Nifty index. According to Hardik Matalia, Derivative Analyst at Choice Broking, support for the Nifty is expected at 22,500, with additional support levels at 22,400 and 22,300. On the upside, resistance levels are seen at 22,700, 22,800, and 22,900, indicating where market momentum may shift.
For the Bank Nifty, initial support points are noted at 48,500 followed by 48,200 and 47,900. If the index manages to push higher, resistance can be anticipated at 48,800, 49,200, and 49,500. "The charts of Bank Nifty indicate support at 48,500... if the index advances, resistance at 48,800," stated Matalia, outlining potential movements for following trades.
On the flip side, the market saw some downward pressure. Among the major gainers listed within the Sensex pack were notable stocks like Bajaj Finance, IndusInd Bank, Bajaj Finserv, and Tata Steel. Conversely, sectors facing losses included UltraTech Cement and Tech Mahindra, among others, as investors were cautious amid the fluctuance.
Over on the global stage, the performance of US markets added to the mixed sentiment. The Dow Jones fell by 0.43% to close at 43,433.12, whereas the S&P 500 slightly rose by 0.01% to 5,956.06, and the Nasdaq advanced 0.26% to 19,075.26. Asian markets displayed divided outcomes, with performances from Seoul, China, Jakarta, and Hong Kong trailing downwards, and only Bangkok and Japan embracing gains.
Foreign Institutional Investors (FIIs) continued to exert selling pressure, offloading equities worth ₹3,529.10 crore on February 25 for the fifth consecutive day. On the contrary, Domestic Institutional Investors (DIIs) stepped up to this challenge, acquiring equities worth ₹3,030.78 crore on the same day, indicating some resilience within the domestic investment environment.
Despite the market’s earlier rebound attempts, signs of weakness emerged as the Nifty struggled to maintain momentum above 22,620, indicating potential consolidation and uncertainty. Anand James, Chief Market Strategist at Geojit Financial Services, noted, "We will wait for 22,950 to be conquered, as confirmation of strength," and placed immediate downside markers at 22,530, with more significant support anticipated at 22,300.
Analysts are closely monitoring these historical markers and their relevance to trading strategies. The mixed performance observed, especially with fluctuated investor behaviors, sets the stage for intriguing trading as the day progresses.
Overall, the Indian stock market’s performance on February 27 presents both opportunities and challenges for investors, with analysts urging caution and vigilance as they navigate through these changing dynamics.