Taking Stock | Market ends lower for fourth straight session amid volatility; oil and gas, metal worst hit

Taking Stock | Market ends lower for fourth straight session amid volatility; oil and gas, metal worst hit

The market is expected to be volatile due to the upcoming Fed meeting and state election results, says Vinod Nair, Head of Research at Geojit Financial Services.





February 21, 2022 / 04:43 PM IST





Indian markets ended lower for the fourth consecutive session on February 21 amid volatility led by the weak global cues amid uncertainties over the Ukraine crisis.

After a negative start, the market remained under selling pressure for a couple of hours but erased losses in the afternoon session and inched to the day's high level. However, profit booking at the higher level again dragged the market into negative terrain towards the closing.

At close, the Sensex was down 149.38 points or 0.26 percent at 57,683.59, and the Nifty was down 69.60 points or 0.40 percent at 17,206.70.

"Domestic indices started weak taking cues from negative global peers but in between recouped most of its losses on reports of likely meeting between US President Joe Biden and Russian President Vladimir Putin over the Ukraine issue," said Vinod Nair, Head of Research at Geojit Financial Services.

"However, the market could not stretch the direction and turned negative as uncertainty in the global markets continued. Investors stood sidelined impacting volumes."

"The