Stock market news: Benchmark equity indices Sensex and Nifty 50 fell by over 1% on Friday due to a widespread selloff, particularly in metal, IT, and commodity sectors, in response to sluggish international markets.
Traders noted that a disappointing earnings season and rising concerns regarding potential disruptions in technology stocks driven by AI also contributed to the negative sentiment.
In a day filled with volatility, the 30-share BSE Sensex dropped 1,048.16 points, or 1.25%, closing at 82,626.76. During the session, the index plummeted 1,140.37 points, or 1.36%, reaching an intraday low of 82,534.55.
On the BSE, 2,960 stocks fell, while 1,253 saw gains, and 151 remained stable.
The Nifty 50 fell by 336.10 points, equivalent to 1.30%, closing at 25,471.10. During intraday trading, it decreased by 362.9 points, or 1.4%, reaching a low of 25,444.30.
For the week, the 30-share BSE Sensex declined by 953.64 points, or 1.14%, while the Nifty 50 saw a decrease of 222.6 points, or 0.86%.
The market capitalization for companies listed on the BSE diminished by ₹7,02,017.71 crore, bringing the total to ₹4,65,46,643.20 crore.
Market Outlook by Dharmesh Shah, Vice President, ICICI Securities
The Indian equity benchmark pared some of its last week’s gains amid mounting fear of AI led disruption. Nifty 50 settled the week at 25,471 with a cut of 0.90%. However, the broader market defied the global trend as Nifty midcap remained unchanged while small cap gained 0.5%. Sectorally, Defence, PSU Banks, auto remained at foreground while IT witnessed biggest single week decline since April 2024.
The Index started the week on a positive note, however profit booking amid global volatility over the last three days pulled the index lower. As a result, the weekly price action formed an inside bar, indicating breather after last week’s sharp uptrend.
We expect index to consolidate in the broader range of 26,000-25,200 wherein focus should be on accumulating beneficiaries of trade deal of India with US & European Union. Index is undergoing slower pace of retracement wherein over past eight sessions it merely retraced 50% of two days sharp up move (24,572-26,340). Such a healthy retracement is providing launchpad to challenge
All time high (26,350) and open the door for directional trend in coming weeks. On the broader market front, Nifty midcap index has rebounded from 52 weeks EMA which has been held firm since past nine months while small cap index witnessed sharp pullback from lower band of six months falling channel. The improving market breadth would result into broadening of the ongoing rally.
Market breadth has been witnessing improvement, as the percentage of stocks trading above their 50 days SMA has bounced from bearish extremes of 15% to 42% levels, while percentage of stocks above 200-day SMA within the Nifty 500 universe enhanced to 38%. Historically, such contractions in breadth have preceded durable market bottoms, with extreme bearish readings near 15%.
Sectorally, since CY-06, on four occasions IT index has witnessed a maximum price wise correction of 34% and time wise correction of 6-7 quarters. Post such phases, the index has typically made new highs. With current week’s sharp decline, it has completed 30% correction. Thereby focus should be on accumulating quality IT stocks in a staggered manner as it approaches maturity of price and time wise maturity.
Key Monitorable:
FII’s inflow: The FII’s have seen persistent buying demand wherein they have bought >6000 cr in the month of Feb. Continuous inflow would boost the market sentiment
Brent Crude: Once again retreated from key hurdle of $70-72 range. Only a decisive close above $72 would fuel the momentum for next leg of up move.
Stocks To Buy This Week – Dharmesh Shah
Dharmesh Shah of ICICI Securities recommends buying Bharat Electronics Ltd (BEL).
1. Buy BEL in the range of ₹421-435. He said BEL share price target of ₹484 with a stop loss of ₹398.
Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 13/02/2026 or have no other financial interest and do not have any material conflict of interest.
The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
