Indian stocks: Around fifteen shares hit upper-circuit on Bombay Stock Exchange (BSE) despite both the benchmarks ended in red on Thursday’s trading session.
Qualitek Labs Ltd, Greencrest Financial Services, Olatech Solutions, Amwill Health Care, Universal Office Automation, Shreyas Intermediates were among the stocks that hit upper-circuit on February 13.
Stock market today
On Thursday, February 13, India’s frontline indices ended lower for the seventh straight session as early gains were wiped out by mid-session selling, pushing both the Nifty 50 and Sensex into negative territory. However, the selling pressure has gradually weakened over the past two trading sessions.
In this context, the Nifty 50 finished the session with a slight decline of 0.06%, settling at 23,031, while the Sensex slipped 0.04% to close at 76,138 compared to Wednesday’s close. The Nifty Smallcap 100 index dropped 0.37% to 15,973, whereas the Nifty Midcap 100 index edged up by 0.25%, closing at 50,881.
In the sectoral space, Nifty Pharma led the gains, rising by 1.35 per cent, as 15 out of its 20 constituents closed in positive territory. Meanwhile, realty stocks rebounded sharply, helping the Nifty Realty index break its six-day losing streak and finish the session up by 0.81%.
“On February 13, the Indian equity markets closed on a flat note after experiencing significant volatility throughout the trading session. Despite the fluctuations, the Nifty 50 managed to sustain above the 23,000 mark, demonstrating resilience at this level. The BSE Sensex ended the day marginally lower by 32.11 points, or 0.04%, at 76,138.97, while the Nifty 50 declined by 13.85 points, or 0.06%, to close at 23,031.40.
The session saw a sharp 190-point rally in the Nifty, followed by a subsequent decline of nearly 200 points from the day’s high, resulting in the formation of an inverted hammer candlestick on the daily chart. This pattern indicates a potential reversal in market sentiment, though further confirmation is required to determine the next directional move. Key support is placed at 22,900, with a breakdown potentially leading to 22,775, while resistance is seen at 23,250 and 23,500. A sustained close above 23,500 could trigger a rally toward the 23,800–24,000 range,” said Aakash Shah, Technical Research Analyst at Choice Broking.
