Broader indices underperformed the main indices with Nifty Mid and Smallcap indices shed 2 percent each. All the sectoral indices ended in the red with metal, media, pharma, consumer durables, energy, realty down 2-3 percent.
Brainbees Solutions (CMP: Rs 415.20 ; down by 0.74% ) shares jumped beyond 4 percent on February 10 following the company’s results for the third quarter of FY25 on February 7. The company had reported a net loss of Rs 14.7 crore for the quarter.
A fresh tariff scare by US President Donald Trump roiled Indian equities, with the benchmark indices ending lower for a fourth day on February 10, dragging Nifty 50 near 23,300. President Trump had earlier said that he would impose additional tariffs on all steel and aluminum imports into the US.
The Nifty 50 index extended the selloff after a weak start, but recovery in banking names helped erase some intraday losses. At close, Nifty 50 ended at 23,381.60, down 0.76 percent or 178.35 points. Chartists said today’s fall could potentially send Nifty 50 towards the next support of 23,240.
Broader indices underperformed the benchmarks, with Nifty Midcap and Smallcap lower by 2 percent each.
Trent, Power Grid Corp, Tata Steel, Titan Company, ONGC were among the top losers on the Nifty, while gainers were Kotak Mahindra Bank, Britannia Industries, Bharti Airtel, HCL Technologies, Tata Consumer Products.
“With a strong bearish candlestick, the index has decisively broken through its key support level of 23,500, signaling a potential move towards the next support level of 23,240. Meanwhile, the resistance level has shifted lower to 23,465,” Aditya Gaggar, Director of Progressive Shares said.
Source: www.moneycontrol.com