Market Wrap: Nifty and Sensex Tumble Over 1% Amid Broad-Based Selloff
Indian stock markets closed in the red on February 24, with Nifty 50 down 1.12% at 25,424.65 and Sensex falling 1.28% to 82,225.92. Transport Services and Energy sectors were the top losers, while Diamond, Gems and Jewellery showed resilience. Market breadth was negative with 3,116 stocks declining out of 4,615 traded. Notable corporate updates included IDFC FIRST Bank's conference call announcement and Suzlon Energy's management changes.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets closed in the red on February 24, 2026, with both benchmark indices witnessing significant losses. The Nifty 50 ended the day at 25,424.65, down 288.35 points or 1.12% from its previous close. Similarly, the BSE Sensex closed at 82,225.92, registering a decline of 1,068.74 points or 1.28%.
Sectoral Performance
The market witnessed a broad-based selloff, with most sectors ending in negative territory. Here's a breakdown of the top losing and gaining sectors:
| Top Losing Sectors | Avg. % Change |
|---|---|
| Transport Services | -13.00 |
| Energy | -12.87 |
| Commercial Services | -11.67 |
| Financial Services | -8.85 |
| Textiles | -8.38 |
| Top Performing Sectors | Avg. % Change |
|---|---|
| Diamond, Gems and Jewellery | 1.00 |
| Banks | 0.60 |
| Printing & Stationery | 0.22 |
| Diversified | 0.10 |
Buzzing Stocks
Several stocks made headlines during the trading session:
- IDFC FIRST Bank: Announced a conference call scheduled for February 23, 2026, to discuss recent developments.
- BLB Limited: ACN Financial Services Limited reduced its shareholding from 12.88% to 10.06%.
- Suzlon Energy: Elevated J.P. Chalasani to Group Executive Council and appointed Ajay Kapur as Group CEO.
- Valencia India Limited: Appointed M/s. Panchal S K & Associates as statutory auditor for FY 2025-2026.
- RBL Bank: Received RBI approval for re-appointing Chandan Sinha as Non-Executive Chairman.
- Waaree Energies: Secured a significant order for 500MW solar modules from a leading power producer.
Market Breadth
The overall market breadth was negative, indicating a bearish sentiment:
| Category | Number of Scrips |
|---|---|
| Total Traded | 4,615 |
| Positive | 1,499 |
| Negative | 3,116 |
Conclusion
The Indian stock markets experienced a significant downturn on February 24, 2026, with the Nifty 50 and BSE Sensex both declining over 1%. The selloff was broad-based, affecting most sectors, particularly Transport Services and Energy. Despite the overall negative trend, sectors like Diamond, Gems and Jewellery, and Banks managed to stay in the green. The market breadth was decisively negative, with declining stocks outnumbering advancing ones by more than two to one.
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