The domestic indices ended largely flat today following the expiry of derivative contracts for February series. The BSE Sensex closed lower by 25.36 points, or 0.07%, to end at 33,819.50 today, while the Nifty50 fell 14.75 points, or 0.14%, to close at 10,382.70 today. Among the 50 stocks in the Nifty50 index, only 16 settled in the green, while 34 were in the red.
Equity market benchmarks closed slightly in the negative territory today as gains in IT and pharma stocks were offset by losses in auto and banking stocks amid rising bond yields. The last day of February derivatives series witnessed a dull trade on concerns over weakening rupee and rising inflation hit investor sentiment. The US Fed's hawkish stance and RBI's concerns over rising inflation weighed on investor sentiment.
NSE benchmark Nifty traded in a 50-point range to end the February series futures and options contracts today. The index end up forming a small bullish candle on the daily chart, as the closing was a tad higher than the opening level. Going ahead, if market has to give any convincing relief rally, it should first surpass the 10,500-mark. Experts believe the market has slipped into consolidation mode and the 10,340-10,300 band has earned great respect from short sellers.