Markets close lower, Nifty holds 17,200; Metal stocks underperform

21 Feb 2022 , 03:53 PM

Domestic equities closed lower after a volatile session as geopolitical disturbances continue to throttle the markets. The Nifty declined by 0.4% for the fourth consecutive session.

Broader markets underperformed in comparison to main indices with Nifty Midcap and SmallCap decreasing by 1.3% and 2.9% respectively.

All sectoral indices ended in red except Nifty Bank (+0.3%), Nifty Media declined the most at 2.8% followed by Nifty Metal (-2.2%) and Nifty PSU Banks (-1.4%).

Wipro, Infosys, Power Grid, Shree Cement, ICICI Bank, HDFC Bank, Maruti, Axis Bank Nestle India and HCL Tech were among gainers on the Nifty50 index. Whereas, Hindalco, SBI Life, UPL, Divis laboratories, Adani Ports, Sun Pharma, TCS, Tech Mahindra, ITC and Titan were among the top losers. 

Meanwhile, Chinese stock markets fell as financials and infrastructure stocks retreated after China kept its benchmark lending rate unchanged. The CSI300 index fell 0.6% to 4,621.83 at the end of the morning session, while the Shanghai Composite Index lost 0.4% to 3,478.17.