Markets snaps 3 day winning run,Sensex falls 1236 pts,Nifty 25,454

The domestic share market traded lower on Thursday,amid broad based selling across sectors.Investor sentiment was further weighed down by escalating tensions between the US and Iran.At close, the Sensex was down 1,236.11 points or 1.48 percent at 82,498.14, and the Nifty was down 365 points or 1.41 percent at 25,454.35.
Dr Reddy's Laboratories, ONGC, HDFC Life and Hindalco Industries were the top gainers on the Nifty, while losers included Interglobe Aviation, M&M, Bharat Electronics, UltraTech Cement and Trent.On the sectoral front all the sectoral indices ended in the red with Auto, Capital Goods, Realty, Power, Consumer Durables, Media down 2% each.The broader indices mirrored the performance of the benchmark indices, with the Nifty Midcap index declining 1.6 percent and the Nifty Smallcap index falling 1.3 percent.The market capitalisation of BSE-listed companies fell by more than Rs 7 lakh crore on Thursday.
Trading Guide:
Vinod Nair, Head of Research, Geojit Investments stated,the bears took charge of the Indian market as rising geopolitical tensions between the US and Iran unsettled global sentiment leading to a broad based sell-off. Brent crude surged to its YTD high, exacerbating inflationary concerns and triggering heightened market volatility on fear of bottlenecking of Strait of Hormuz.At the same time uncertainty surrounding the US Fed’s rate-cut trajectory and continued weakness in the INR impacted the domestic market. Sell-off intensified due to low FII participation because of Lunar New Year holiday across key Asian markets and a non-settlement day on account of a regional banking holiday in India.
Market experts recommended five shares to buy on Thursday- Senores Pharmaceuticals, ELGI Equipments, Lumax AutoTechnologies, Acutaas Chemicals, and Azad Engineering.
India’s currency and debt markets close on February 19 for Chhatrapati Shivaji Maharaj Jayanti.

(Business Correspondent)