The Indian stock market ended with significant losses on Thursday, February 12, on profit booking across sectors as a selloff in IT stocks weighed on overall market sentiment.
The Sensex closed 559 points, or 0.66%, down at 83,674.92, while the Nifty 50 settled at 25,807.20, falling 147 points, or 0.57%.
The selloff was broad-based as the BSE 150 MidCap Index fell 0.46%, while the BSE 250 SmallCap Index crashed 0.86%.
The overall market capitalisation of BSE-listed firms dropped to ₹472 lakh crore from ₹475 lakh crore in the previous session, making investors poorer by about ₹3 lakh crore in a single session.
10 key highlights from the Indian stock market today
1. Why did the Indian stock market fall today?
Market sentiment weakened amid a massive selloff in IT stocks, driven by concerns about the impact of AI advancements on the sector. A rise in the US dollar and bond yields also added to the overall negative sentiment.
“A nosedive correction in the IT index triggered by mounting concerns over AI-led disruptions, along with low expectations of a US Fed rate cut due to strong US job data and unemployment rates, dampened investor sentiment,” Vinod Nair, Head of Research, Geojit Investments Limited, noted.
Nair highlighted that AI is reshaping markets globally by compressing margins in service-intensive sectors and increasing volatility driven by concentration.
In India, Nair believes this technology shift is likely to structurally transform IT services by accelerating delivery timelines and automating volume-driven tasks, which may challenge the traditional headcount-based outsourcing model.
“A weak sentiment in the IT sector, along with lingering geopolitical tensions between the US and Iran, may influence investors to take a cautious approach in the near term,” said Nair.
2. Top Nifty 50 gainers
Bajaj Finance (up 3.31%), Shriram Finance (up 2.48%), and Eicher Motors (up 2.13%) ended as the top gainers in the Nifty 50 index.
3. Top losers in the Nifty 50 index
Tech Mahindra (down 6.40%), Infosys (down 5.97%), TCS (down 5.77%), HCL Technologies (down 5.20%), and Wipro (down 4.79%) ended as the top losers in the index. Some 30 stocks ended lower in the index.
4. Sectoral indices today
Nifty IT, with a loss of 5.51%, ended as the top loser among the sectoral indices. Nifty Realty (down 1.45%), Media (down 1.31%), and Oil and Gas (down 1.19%) also ended with significant losses.
Nifty Bank ended flat at 60,739.75, while the Financial Services index rose by 0.38%.
5. Most active counters in terms of volume
Vodafone Idea (49.75 crore shares), GTL Infrastructure (11.94 crore shares), and Tata Silver Exchange Traded Fund (11.50 crore shares) were the most active counters in terms of volume on the NSE.
6. Advance-decline ratio
The advance-decline ratio remained in favour of decliners as over 1,600 stocks advanced while over 2,500 declined on the BSE.
7. 13 stocks jump over 15% on BSE
Avanti Feeds, Apex Frozen Foods, Kwality Pharmaceuticals, Ratnamani Metals & Tubes, and GE Power India were among the 13 stocks that jumped over 15% on the BSE.
8. 140 stocks hit 52-week highs
SBI, L&T, NTPC, Bajaj Auto, ONGC, and Shriram Finance were among the 140 stocks that hit their 52-week highs in intraday trade on the BSE.
9. 111 stocks hit 52-week lows
TCS, Wipro, OFSS, IREDA, and Abbott India were among the 111 stocks that hit their 52-week lows on the BSE.
10. Nifty’s technical outlook
Rupak De, Senior Technical Analyst at LKP Securities, highlighted that despite the correction, the Nifty 50 managed to close above the 20DMA, keeping the possibility of a recovery intact.
“On the upside, resistance continues to be placed at 26,000. On the downside, support is seen in the 25,750 and 25,500,” said De.
Ajit Mishra, SVP- Research at Religare Broking, expects the Nifty to hold the 25,600–25,700 zone. On the upside, Mishra believes the 26,000 level will continue to act as a key hurdle.
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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.
