Markets, Feb 17: Nifty today; FIIs; Ajax listing; Hexaware IPO allotment

Stock Markets Today, Feb 17: The current market texture is weak and if the Nifty breaks 22,800 level and the BSE Sensex 75,200 support zone, then it could slip till 22,600-22,500/74,600-74,300

Stock Market Today, Monday, February 17, 2025: With the Q3 results season behind the stock markets, foreign investors’ buying and selling of India equities, along with other global developments, will drive investor sentiment in the near-term.

 

Stock Markets Today Prediction, February 17:

India stock markets today are expected to open on a subdued note, as per trends on GIFT Nifty. At 7:05 AM, GIFT Nifty futures were down 19 points at 22,977. Investors, today, will remain stock-specific amid lack of domestic triggers.

 

On Friday, the BSE Sensex closed 199.7 points lower at 75,939 levels, while the Nifty50 dropped 102 points to end at 22,929 levels. The Nifty SmallCap 100 index, meanwhile, entered the 'bear' phase last Friday as the index’s plunge from its peak of 19,716.20 reached 22 per cent after it declined nearly 4 per cent on Friday to close at 15,373.70 levels.

 

 

FIIs/FPIs sold India stocks worth Rs 4,294.69 crore on February 14, while DIIs bought shares worth Rs 4,363.87 crore.

 

According to stock market analysts, Dalal Street is on the ‘knife’s edge’. While a rebound is awaited, any negative development may open doors for another 2-3 per cent decline in the markets. READ MORE

 

Besides, over the past one year, the Nifty has given nominally positive returns of 4.6 per cent. That is less than the yield from treasury bills, or even the rate of inflation. The NSE500 is up just 2.9 per cent and the midcaps have returned a meagre 2.5 per cent return in the same period, while the smallcaps are down 3.3 per cent. The ongoing market correction seems to be testing the resolve of the retail investors, who have been the primary force driving the markets over the past five years. READ MORE

 

Global Markets

Asia-Pacific markets were mixed today. Investors are assessing Japan’s fourth-quarter gross domestic product (GDP) data which showed that Japan’s economy grew 2.8 per cent year-on-year in Q4, exceeding Reuters’ estimates of 1 per cent. On a quarter-on-quarter basis, it expanded 0.7 per cent.  

 

Japan’s Nikkei 225 traded 0.07 per cent weaker, South Korea’s Kospi added 0.47 per cent, and Australia’s ASX200 dipped 0.6 per cent.

 

Last Friday, the Dow Jones Industrial Average slipped 0.37 per cent on Wall Street in the US, the S&P 500 ticked down 0.01 per cent, and the Nasdaq Composite added 0.41 per cent.

 

During the week, investors will track Reserve Bank of Australia’s (RBA’s) interest rate decision (Tuesday), Japan’s Balance of Trade data for January (Wednesday), the UK’s inflation data for January (Tuesday), minutes of the latest US FOMC meeting (Thursday), and Australia, India, the UK, and the US’ Flash Manufacturing and Services PMI data for February (Friday).  

 

Besides, any progress on resolving the Ukraine-Russia war will be on radar. 

Stock Market News

According to a Business Standard analysis, the combined net sales (including financials) of listed companies increased in single digits for the seventh consecutive quarter in Q3FY25, while their combined net profit was up by a single digit for a third straight quarter. READ MORE

 

Meanwhile, Indian companies and trade organisations have been in a wait-and-watch mode while staying cautious of US President Donald Trump’s order to impose “reciprocal” tariffs. Some industries likely to be affected by the reciprocal tariff include automobile (auto) components, steel, pharmaceuticals, and textiles, say analysts. READ MORE

 

IPO News

No new mainboard IPO will open for subscription this week. Ajax Engineering will debut on the stock markets today, while Hexaware Technologies may see its share allotment getting finalised today.

 

Ongoing IPO – Quality Power Electrical Equipments IPO – will enter its second day today.

 

In the SME category, Chandan Healthcare shares will list today; basis of allotments of Maxvolt Energy IPO, Voler Car IPO, and PS Raj Steels IPO will be finalised today; Shanmuga Hospital IPO and LK Mehta Polymers IPO will close for subscription today; and Tejas Cargo India IPO and Royalarc Electrodes IPOs will enter their second day of subscription.

 

Among upcoming SME IPOs, Beezaasan Explotech IPO will open on February 21, while HP Telecom India IPO will open on February 20, 2025.

 

Stock Markets Outlook: How to trade Nifty Today? Levels for Sensex Today, Feb 17?

 

Amol Athawale, VP-Technical Research, Kotak Securities:

The current market texture is weak and if the Nifty breaks 22,800 level and the BSE Sensex 75,200 support zone, then it could slip till 22,600-22,500/74,600-74,300.

 

On the other side, 23,000/76,500 is an important level to watch out. Above 23,000/76,500, we could see an extension of technical bounce back till 23,200 -23,300/77,100-77,500.

 

Rupak De, Senior Technical Analyst, LKP Securities:

The Nifty continues to reel under a bear attack as it closed below 23,000 last Friday. The sentiment remains weak, as it continues to trade below a critical short-term moving average. A decisive fall from 22,800 could trigger further panic in the market. On the higher end, 23,100 appears to be the immediate resistance, above which the market may see some respite.

 

Nagaraj Shetti, Senior Technical Research Analyst, HDFC Securities:

A long bear candle was formed on the weekly Nifty chart, which indicates reversal on the downside after two weeks of upside bounce. The negative chart pattern like ‘lower tops and bottoms’ is in force as per daily and weekly time frame chart.

  

A decisive move below the support of 22,800 levels could open the next downside of around 22,450 levels (20 month EMA) in the near term. Immediate resistance is placed at 23,250.