New Delhi, Feb. 25 -- Market Update: Nifty and Bank Nifty Analysis for 24 February

On Monday, the market opened weak with a gap-down start, and despite a brief recovery attempt, selling pressure remained dominant throughout the session. Nifty faced relentless resistance, with every bounce being sold into, reflecting the strong grip of bears on the market. Heavyweight stocks dragged the index lower, leading to a negative close. The Nifty 50 index closed down by 242.55 points at 22,553.35 (-1.06%), while the Bank Nifty index fell by 329.25 points to 48,651.95 (-0.67%).

The market witnessed heavy sell-offs across sectors, with metal (-2.17%), services sector(-1.53%), and PSE (-1.45%) taking the biggest hit. On the flip side, only a few sec...