Meanwhile, the volatility gauge India VIX ended at 11.55, down 1% from the last closing.
Here’s how analysts read the market pulse:
Rupak De, Senior Technical Analyst at LKP Securities said that the index faced resistance at 26,000, resulting in a correction from the day’s high. In his view, the short-term trend remains positive as it continues to hold above the immediate support at 25,800.
“A decisive move above 26,000 could trigger further upside toward higher levels. The technical setup remains bullish, with the RSI in a bullish crossover and the index trading above the 20DMA, supporting a positive bias,” De said.
US markets
US stocks are flirting with a record Wednesday following an encouraging report that said the nation’s unemployment rate unexpectedly improved last month.
Treasury yields also climbed in the bond market immediately after the Labor Department said US employers added 130,000 jobs to their payrolls last month, more than the 75,000 that economists expected. That helped calm worries that had heightened a day earlier, when a discouraging report suggested spending by US households, the main engine of the economy, may be stalling.
To be sure, all is still not perfectly clear for the US economy. Wednesday’s report included major revisions, which said employers added just 181,000 jobs for all of last year, less than a third of the previously reported 584,000. That’s the weakest showing for a year since 2020, when COVID-19 shut down the economy.
European Markets
Most major European indices were trading lower around 12:28 p.m. GMT (6:24 pm India time) with Germany’s DAX, Spain’s IBEX and French CAC 40 down up to 0.42%. Meanwhile, Stoxx 600 was trading flat around this time. UK’s FTSE 100, though, surged 0.8%.
Tech View
Dhupesh Dhameja, Derivatives Research Analyst at SAMCO Securities, sees the formation of a solid base within the 25,700–25,600 range, aligning with the 50DMA and reinforcing it as a pivotal defensive zone for buyers. “Currently hovering near the psychologically significant 26,000 level, the index appears poised for a potential breakout. A sustained move above this threshold could confirm follow-through buying and unlock fresh upside momentum,” he said.
“Importantly, the 25,600–25,700 region—once a notable supply zone—has now evolved into a critical demand cluster. This area also coincides with the 0.618 Fibonacci retracement level and key moving averages, creating a strong confluence zone and a significant inflection point for the index,”Dhameja said, suggesting a buy-on-dips strategy.
Most active stocks in terms of turnover
ICICI Bank (Rs 494 crore), Larsen & Toubro (L&T, Rs 343 crore), Ather Energy (Rs 297 crore), SBI (Rs 271 crore), Persistent Systems (Rs 230 crore), Tata Steel (Rs 189 crore) and PCBL (Rs 145 crore), were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 6.70 crore), SpiceJet (Traded shares: 1.27 crore), Tata Steel (Traded shares: 90.70 lakh), Billionbrains Garage Ventures (Groww, Traded shares: 77.62 lakh), Suzlon Energy (Traded shares: 74.65 lakh), Samvardhan Motherson (Traded shares: 44.23 lakh) and NMDC (Traded shares: 41.98 lakh) were among the most actively traded stocks in volume terms on BSE.
Stocks showing buying interest
SBI, Eicher Motors, Apollo Hospitals, SJVN, Laxmi Cotspin, Airan, Brightcom Group and JK Paper were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Today, 131 stocks hit their 52 week highs while 75 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included Amagi Media Labs, APL Apollo, Ashok Leyland, Bajaj Auto, Bajaj Consumer, Eicher Motors and Force Motors.
Stocks seeing selling pressure
Among the large cap names were Infosys, HDFC Bank and TCS. Other stocks which witnessed significant selling pressure were BHEL, Pearl Global, Synergy Green Industries, Sterlite Technologies, Laxmi Dental, Ecos (India) Mobility & Hospitality and Bartronics India.
Sentiment meter favours bears
Action in heavyweights like Infosys, HDFC Bank and TCS dragged the markets the most. The breadth stayed negative in broader markets. Out of the 4,383 stocks that traded on the BSE on February 11, Wednesday, 1,913 stocks witnessed advances, 2,316 saw declines while 154 stocks remained unchanged.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)