The Indian stock market suffered strong losses on Friday, February 13, amid weak global cues on concerns over AI and its impact on the global economy. The Sensex crashed 1048 points, or 1.25%, to end at 82,626.76, while the Nifty 50 dropped to 25,471.10, falling 336 points, or 1.30%.
The mid and small-cap segments suffered even deeper losses. The BSE 150 MidCap Index crashed 1.58%, while the BSE 250 SmallCap Index plunged 1.50%.
The volatility index, India VIX, jumped over 13% to move back above the 13 mark.
The overall market capitalization of BSE-listed firms dropped to ₹465 lakh crore from ₹472 lakh crore in the previous session, making investors poorer by about ₹7 lakh crore in a single session.
10 key highlights from the Indian stock market today
1. Why did the Indian stock market fall today?
Weak global cues on persisting uncertainties over the impact of AI on the tech and other sectors are keeping investors nervous. Besides, the weakening of expectations for US Fed rate cuts in the coming months, following strong jobs data, also added to the market weakness.
“Domestic equities ended lower following a highly volatile session, weighed down by weak global cues ahead of the upcoming US inflation data. Sentiment gains from the US–India trade deal have faded as renewed AI‑driven disruption fears weigh on risk appetite, with markets worrying that Indian IT firms dependent on the labor arbitrage model may face tougher competitive pressure than their Nasdaq peers,” said Vinod Nair, Head of Research, Geojit Investments Limited.
2. Top Nifty 50 gainers
Only five stocks- Bajaj Finance (up 3.09%), Eicher Motors (up 1.56%). SBI Life Insurance Company (up 0.84%), SBI (up 0.33%), and Cipla (up 0.13 %)- ended in the green in the Nifty 50 index.
3. Top losers in the Nifty 50 index
Hindalco Industries (down 6.08%), Hindustan Unilever (down 4.34%), Eternal (down 4.30%), Adani Enterprises (down 3.83%), and ONGC (down 3.20%) ended as the top losers in the index.
4. Sectoral indices today
The sharp selloff dragged all sectoral indices into the negative territory. Nifty Metal (down 3.31%), Realty (down 2.23%), FMCG (down 1.90%), Oil and Gas (down 1.88%), IT (down 1.44%), Consumer Durables (down 1.29%), and Private Bank (down 1.02%) crashed significantly.
Nifty Bank and Financial Services indices declined by 0.91% each.
5. Most active counters in terms of volume
Vodafone Idea (35.2 crore shares), Tata Silver Exchange Traded Fund (23.2 crore shares), and Engineers India (13.4 crore shares) were the most active counters in terms of volume on the NSE.
6. Advance-decline ratio
The advance-decline ratio remained in favor of decliners as over 1,300 stocks advanced while over 2,800 declined on the BSE.
7. 16 stocks jump over 15% on BSE
Despite the stock market crash, some 16 stocks, including GE Power India, DC Infotech and Communication, and Universus Photo Imaging, jumped over 15% on the BSE.
On the flip side, SpiceJet, Oxygenta Pharmaceutical, and Comfort Comotrade were among the six stocks that crashed more than 15% on the BSE.
8. Over 80 stocks hit 52-week highs
Eicher Motors, Bharat Forge, Max Financial Services, Sansera Engineering, Sharda Cropchem, and Avanti Feeds were among the 83 stocks that hit their 52-week highs in intraday trade on the BSE.
9. Nearly 200 stocks hit 52-week lows
As many as 193 stocks, including TCS, Infosys, Wipro, OFSS, Info Edge (India), L&T Technology Services, Procter & Gamble Hygiene and Health Care, Abbott India, and IREDA, hit their 52-week lows on the BSE.
10. Nifty’s technical outlook
According to Rupak De, Senior Technical Analyst at LKP Securities, the setup has turned relatively cautious, with the index slipping below its 20DMA for the first time in the past few sessions. Additionally, it has breached the 38.2% Fibonacci retracement of the prior upmove from 24,571 to 26,341.
“With the index closing below the key support level of 25,500, the near-term bias appears weak, and there is potential for a decline towards the 25,000 mark in the short term. On the upside, immediate resistance is seen around 25,800,” said De.
Ajit Mishra, SVP- Research at Religare Broking, said the sharp fall in the IT pack has significantly altered the market tone, and a break below the 25,400 mark could open the door for a move towards the 25,100 gap area.
On the upside, the 25,700–26,000 zone is likely to act as a strong resistance band in case of any recovery, said Mishra.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
