Market end marginally lower as mixed global cues weigh on sentiment

The Indian equities closed marginally lower on Wednesday, as selling pressure in Reliance Industries, Infosys, and banking stocks offset early gains, amid mixed global cues.At close, the Sensex was down 28.21 points or 0.04 percent at 75,939.18, and the Nifty was down 12.40 points or 0.05 percent at 22,932.90. About 2724 shares advanced, 1079 shares declined, and 107 shares unchanged.
Bharat Electronics, Hindalco, L&T, Axis Bank, Eicher Motors were the top gainers on the Nifty, while losers included, Dr Reddy's Labs, TCS, HUL, Infosys, Adani Enterprises.
On the sectoral front, IT index shed 1.3 percent and pharma index down 0.7 percent, while media, energy, metal, PSU bank, realty, capital goods rose 1-2 percent.BSE Midcap index was up 1.3 percent and Smallcap index added 2.4 percent.
Rupee Close:
On 19 Feb'25,the Indian rupee closed at 86.95 against the US dollar on Wednesday, pressured by FII equity sell-offs and increased dollar demand from importer, according to sources. Central bank intervention prevented a breach of the 87 level. Surge in crude oil prices over the past few sessions weighed on the Rupee. 
We expect Rupee to trade with negative on the back of weak domestic markets and a bounce back in the US Dollar,Anuj Choudhary –Research Analyst at Mirae Asset Sharekhan stated. Persistent FII outflows may also pressurise the domestic currency. However, any fresh intervention by the RBI may support the Rupee at lower levels. Traders may take cues FOMC meeting minutes and housing data from the US. USDINR spot price is expected to trade in a range of Rs 86.75 to Rs 87.25,stated experts.
Trading Guide: 
Vinod Nair, Head of Research, Geojit Financial Services reportedly quoted as saying,the national benchmarks exhibited a range-bound performance with a slight downward bias, though selective buying in the broader market was evident, driven by bargain hunting in beaten-down stocks. A reversal in FII flows also influenced market dynamics; however, the durability of this trend remains uncertain. Despite concerns over potential US tariff impositions and delays in anticipated interest rate cuts, market sentiment remains optimistic about a rebound in India’s Q3 GDP growth. This optimism is further bolstered by expectations of a recovery in government expenditure. At this juncture, large-cap stocks present a more attractive risk-reward proposition, given their fair valuations.

(Business Correspondent)