Stock Market Today: Nifty level; Flash Mfg PMI; PhonePe, NSDL IPO; Walmart

Stock Market Today, Feb 21: Fintech company PhonePe has kicked off preparations for a potential stock market listing in India

Stock Market Today, Friday, February 21, 2025: A weak handover from Wall Street and Asia peers may limit upside in the India stock market today. At 7:15 AM, GIFT Nifty futures were quoting at 22,866 level, down 77 points.

 

In Asia, Japan’s Nikkei 225 index slipped 0.43 per cent after the country’s January inflation increased to 4 per cent, hitting its highest level since January 2023. Core inflation, too, inched up to 3.2 per cent, surpassing Reuters’ expectations of 3.1 per cent.  READ: Stock Market LIVE Updates Today

 

The hot inflation data solidifies the case for rate hikes by the Bank of Japan, which backed tightening of rates at its January meeting amid inflation risks and weakness in the yen.

 

That apart, South Korea’s Kospi index declined 0.31 per cent, and Australia’s ASX200 was down 0.012 per cent.

 

Hang Seng Futures, however, pointed to a strong open after Morgan Stanley upgraded the MSCI China Index to ‘Equal weight’ from ‘Under weight’.

 

Overnight, main Wall Street indices edged following a weak forecast from retail giant Walmart, which raised concerns about the economic outlook.

 

The Dow Jones Industrial Average lost 451 points or 1.01 per cent, the S&P 500 shed 0.43 per cent, and the Nasdaq Composite dipped 0.47 per cent.

 

Separately, initial claims for state unemployment benefits rose 5,000 to a seasonally adjusted 219,000 for the week ended February 15 as against Reuters’s estimate of 215,000 claims.

 

Stock Markets Recap

On Thursday, the BSE Sensex declined 203.22 points or 0.27 per cent to end at 75,735.96, while the NSE Nifty50 closed 19.75 points or 0.09 per cent lower at 22,913.15 levels.

 

The outperformance of the midcap and smallcap stocks continued on Thursday as the Nifty SmallCap100 index settled 1.43 per cent higher, and the Nifty MidCap100 index ended up 1.26 per cent.

 

According to analysts, the pain in Indian equities, which has been pinching investors over the past five months, could continue since the slowdown in corporate earnings growth and the exodus of foreign investors will persist amid a sputtering Indian economy. READ MORE

 

FII, DII Activity

The weakness in benchmark indices came on the back of equity selling by foreign investors.

 

FIIs/FPIs sold India stocks worth Rs 3,311.55 crore on Thursday, February 20, 2025. DIIs, on the flipside, bought equity shares worth Rs 3,907.64 crore.

 

Stock Market Today Prediction, Feb 21:

Apart from global stock market trends, investors will track any statement by US President Donald Trump on trade tariffs, developments around Ukraine-Russia war resolution, and eye the flash Manufacturing, and Services PMI data for February from Australia, India, the UK, and the US.  That apart, they will also await the release of the minutes of the Reserve Bank of India's MPC’s meeting later today.

 

IPO News, Feb 21:

The primary market activity remains quiet amid stock market volatility. While there are no developments in the mainboard IPO category, shares of LK Mehta Polymers, and Shanmuga Hospital, from the SME IPO category, will list on the bourses today.

 

That apart, Swasth Foodtech India IPO, and HP Telecom India IPO will enter their second day of subscription, while Beezaasan Explotech IPO will open for subscription today.

 

Meanwhile, fintech company PhonePe has kicked off preparations for a potential stock market listing in India. READ MORE

 

Separately, India’s largest depository, National Securities Depository (NSDL), is gearing up to launch its initial public offering (IPO) by early April, according to a Business Standard report. READ MORE

 

Stocks to Watch Today, Feb 21:

 

Berger Paints: The National Stock Exchange (NSE) has decided to remove Berger Paints from the Futures & Options segment, effective April 25.

 

Cipla: The US FDA has given its final approval to the company’s New Drug Application for Nilotinib capsules (50 mg, 150 mg, and 200 mg).

 

Religare Enterprises: The Burman family has acquired control of Delhi based financial services firm, Religare Enterprises, and has been designated as its promoters.  READ: Full List of Stocks to watch today, February 21

 

Stock Market Outlook Today: How to trade Nifty50, Sensex today?

Shrikant Chouhan, Head Equity Research, Kotak Securities:

Nifty daily chart saw the formation of a small candle, indicating non-directional activity. For day traders, the level of 22,950 on Nifty and 75,800 level on Sensex is crucial to watch. If the market moves above these levels, it could rally to the 23,050-23,100/76,100-76,300 range.

 

Conversely, a breach of 22,800/75,500 could change the sentiment, potentially leading to a retest of the 22,725-22,650/75,200-75,000 levels.

Rupak De, Senior Technical Analyst, LKP Securities:

On the lower end, Nifty support is placed at 22,800 for Nifty, while resistance is at 23,150. A decisive breakout on either side might trigger a directional move in the market.

 

Nagaraj Shetti, Senior Technical Research Analyst, HDFC Securities:

The Nifty is currently placed near the strong support around 22,700 levels (38.2 per cent Fibonacci Retracement). A sustainable move above the initial hurdle of 23,100 levels could confirm short-term bottom reversal for the market and that could pull Nifty to further highs. Hence, there is a possibility of an upside bounce in the next 1-2 sessions.