Stock market slips! Sensex, Nifty open in red as auto, FMCG, Real estate drag

The stock market extended its losing streak on Thursday, February 20, as auto, FMCG, and real estate stocks dragged indices lower. At 9:20 am IST, the BSE Sensex fell 310.64 points (0.41%) to 75,628.54, while the NSE Nifty dropped 74.00 points (0.32%) to 22,858.90.

Mahindra & Mahindra led the losses, sinking 2.12% to ₹2,698.75. ITC followed, falling 1.40% to ₹400.80, while HDFC Bank slipped 1.18% to ₹1,706.50. Only eight out of the 30 Sensex stocks traded in the green.

Nifty sectoral indices also struggled. The Nifty Auto Index dropped 0.89% to 21,614.65, while Nifty FMCG slipped 0.77% to 51,956.80. Nifty Realty fell 0.62% to 840.70.

On Wednesday, February 19, the market closed slightly in the red. The Sensex ended 28.21 points (0.04%) lower at 75,939.18, while the Nifty dropped 12.40 points (0.05%) to 22,932.90. IT, healthcare, and pharma stocks led the decline.

“Nifty ended slightly down yesterday, but investors bought the dip,” said Akshay Chinchalkar, Head of Research at Axis Securities. “Demand remains solid near recent lows. However, the market must break out of the 22,700-23,300 range for a clear trend to emerge. Until then, expect more churning.”

Kunal Kamble, Senior Technical Research Analyst at Bonanza, echoed similar sentiments. “Nifty has traded between 23,200 and 22,700 for six sessions. A breakout beyond these levels is needed for any strong directional move,” he noted. “With today’s weekly expiry, Nifty may close below 23,100, signaling further consolidation.”

Foreign Institutional Investors (FIIs) remained net sellers, offloading ₹1,881.30 crore in equities. Domestic Institutional Investors (DIIs) continued their buying streak, purchasing ₹1,957.74 crore worth of stocks.

Among Sensex stocks, Tata Consultancy Services suffered the biggest loss, falling 2.28% to ₹3,781.35. Infosys followed, dropping 2.20% to ₹1,810.80, while Hindustan Unilever declined 1.98% to ₹2,250.25. Seventeen out of the 30 Sensex stocks ended in the red.

Sectoral indices struggled as well. Nifty IT dropped 1.30% to 40,924.25, Nifty Healthcare fell 0.78% to 13,363.85, and Nifty Pharma slipped 0.71% to 20,820.00.

Nifty Healthcare and Pharma tumbled after former US President Donald Trump proposed a 25% tariff on Indian pharmaceuticals. The US remains India’s top export market for pharma products.

Nifty IT faced pressure from LTIMindtree (-3.55%), Tata Consultancy Services (-2.28%), and Infosys (-2.22%).

Nifty Healthcare declined due to losses in Dr. Reddy’s Laboratories (-2.48%), Zydus Lifesciences (-2.21%), and Aurobindo Pharma (-2.13%).

Nifty Pharma dropped as Natco Pharma (-2.70%), Dr. Reddy’s Laboratories (-2.48%), and Zydus Lifesciences (-2.21%) led the slide.

Investors now await key global cues and policy updates to gauge market direction in the coming sessions.