There is redness in the market, stock market opened with decline, Sensex fell by 800 points, know the condition of Nifty.

Mumbai, 13 February. On Friday, the last trading day of the week, the Indian stock market opened in the red with a big fall. During this period, the main benchmark of the domestic market, Sensex, opened at 82,902.73 with a big fall of 772.19 points from its previous close (83,674.92), while Nifty opened at 25,571.15, falling 236.05 points from its previous close (25,807.20). At the time of writing (around 9.40 am), the 30-share BSE Sensex was down 847.21 points or 1.01 percent at 82,827.71, while the NSE Nifty was trading at 25,538.85, down 268.35 points or 1.04 percent. In the broader market, the Nifty Midcap index fell 1.31 per cent and the Nifty Smallcap index fell 1.58 per cent.

Sector wise, Nifty IT declined by 5 percent, mainly due to Infosys (fall of more than 5.5 percent), TCS, HCL Tech, LTI Mindtree, Coforge and Wipro. Apart from this, Nifty Metal index fell by 2 per cent, Nifty Media by 1 per cent and Nifty FMCG by 0.8 per cent and Nifty Bank by 0.35 per cent. Of the 30 Sensex stocks, 26 declined, including Infosys, TCS, HCL Tech, Tech M, HUL, Trent, M&M, Eternal, Tata Steel, NTPC, Titan, L&T, Bajaj Finserv, Indigo and Power Grid.

During this period, only Bajaj Finance, HDFC Bank, SBI and Bharti Airtel managed to achieve slight gains. Hitesh Taylor, Research Analyst, Choice Broking, said that in the last trading session, Nifty opened with a decline and remained under selling pressure throughout the day. The market remained weak and moved in a limited range in the first part of the day, after which Nifty slipped to an intraday low of 25,752. However, later there was a slight recovery and it closed at 25,807.20. Technically, levels of 25,900-25,950 are being considered as immediate resistance, while 25,650-25,700 are strong support. The RSI is at 53.87, indicating mild bearishness with neutral momentum and limited bullish potential in the near term.

Talking about institutional investors, on February 12, foreign institutional investors (FIIs) continued buying for the fifth consecutive session and bought shares worth Rs 108 crore. At the same time, domestic institutional investors (DIIs) were also net buyers and invested more than Rs 276 crore. The expert further said that in view of the global uncertainties and increasing volatility in the market, traders are advised to adopt a disciplined and selective strategy. During the downturn, it would be better to focus on stocks with strong fundamentals. New long positions should be created only when Nifty remains firmly above the level of 26,000, because crossing this level will indicate a stable and meaningful correction in the market.