
Stocks to buy today: Ankush Bajaj recommends three stocks for 3 March
Subscribe to enjoy similar stories. On Friday, the market started the day on a weak note with a gap-down opening, immediately setting a bearish tone. Nifty breached the critical psychological support of 22,500, triggering heavy selling pressure that persisted throughout the session.
No signs of recovery, as every minor bounce was aggressively sold into. The Nifty 50 index closed down by 420.35 points (-1.86%) at 22,124.70 , while the Bank Nifty index lost 399.10 points (-0.82%) to end at 48,344.70. The market plunged into deep red, witnessing brutal sell-offs across all sectors, with auto (-3.92%), consumption index (-3.09%), and PSU Bank (-2.83%) taking a severe beating.
Not a single sector managed to stay afloat, exposing the sheer intensity of the bearish grip. Relentless selling pressure and panic-driven liquidation drove the market lower, signalling weakness across the board and hinting at further downside risk ahead. The market remained firmly in the grip of the bears, as widespread selling pressure overshadowed the few isolated gains.
While HDFC Bank (+1.86%), Shriram Finance (+1.73%), and Coal India (+1.51%) managed to hold on to modest gains, they did little to lift the overall market mood. On the other hand, Tech Mahindra (-6.32%), Wipro (-5.72%), and IndusInd Bank (-5.41%) led the brutal sell-off, dragging the index further down. The persistent selling pressure and steep declines reaffirmed the dominance of bears, raising fears of deeper corrections ahead.
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