Stock market today: Nifty 50, Sensex recover smartly from day’s low, snap 8-day losing run; pharma stocks top gainers

After an 8-day consecutive decline on Dalal Street, bulls finally took charge during Monday’s trading session on February 17, pushing the front-line indices into positive territory. Although both Nifty 50 and Sensex began the session in the red, a significant rebound in financials, along with strong contributions from pharma stocks, provided much-needed relief and a boost for the markets.

The Nifty 50 ended the session with a gain of 0.13% at 22,970, while the Sensex closed at 75,996 marking a 0.08% increase from the previous close. Mid-cap and small-cap stocks, which had been under significant selling pressure in recent sessions, also managed to end higher. 

The Nifty midcap 100 index rose by 0.39% to 49,849, and the Nifty smallcap 100 index concluded the day with a gain of 0.04%, closing at 15,413.

With the absence of near-term domestic catalysts, investors are increasingly focused on global developments, which are weighing on market sentiment. Escalating global trade tensions are raising concerns about the potential for a full-blown trade war, including supply chain disruptions and the risk of slower economic growth. These factors have compounded the already bearish sentiment, which was fueled by moderate earnings growth and rising valuations.