The Indian equity indices extend the fall on sixth consecutive session on February 12 as market failed to build on the mid-session sharp recovery from day's low, and ended marginally lower as investors remained worried over global trade war and US inflation print later tonight.
At close, the Sensex was down 122.52 points or 0.16 percent at 76,171.08, and the Nifty was down 26.55 points or 0.12 percent at 23,045.25.
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M&M, Bharat Electronics, Eicher Motors, ITC, Hero MotoCorp were among major losers on the Nifty, while gainers were SBI Life Insurance, Bajaj Finserv, HDFC Life, Shriram Finance, Tata Steel.
BSE Midcap and smallcap indices shed 0.5 percent each.
Among sectors, except PSU Bank and metal all other sectoral indices ended in the red with realty index down nearly 3 percent.
More than 700 stocks touched their 52-week low, including Bayer CropScience, Sammaan Capital, Ircon Internation, Godrej Properties, JBM Auto, Whirlpool, DLF, Gujarat Gas, Jio Financial, Delhivery, Honeywell Automation, EIH, Tanla Platforms, Kirloskar Oil, Graphite India, among others. Click here to view full list
Outlook for February 13
Index | Prices | Change | Change% |
---|---|---|---|
Sensex | 83,952.19 | 484.53 | +0.58% |
Nifty 50 | 25,709.85 | 124.55 | +0.49% |
Nifty Bank | 57,713.35 | 290.80 | +0.51% |
Biggest Gainer | Prices | Change | Change% |
---|---|---|---|
Asian Paints | 2,507.80 | 98.10 | +4.07% |
Biggest Loser | Prices | Change | Change% |
---|---|---|---|
Wipro | 240.90 | -12.91 | -5.09% |
Best Sector | Prices | Change | Change% |
---|---|---|---|
Nifty FMCG | 56616.40 | 762.50 | +1.37% |
Worst Sector | Prices | Change | Change% |
---|---|---|---|
Nifty IT | 34950.70 | -580.40 | -1.63% |
Aditya Gaggar Director of Progressive Shares
The market witnessed a fierce tug-of-war between the bulls and bears. The Index opened lower, extending its losses and revisiting its previous swing low of 22,800. However, a strong V-shaped recovery followed, but the inability to sustain upward momentum reflected broader market uncertainty. Ultimately, the Index closed at 23,045.25 with a loss of 26.55 points. Among the sectors, PSU Banks and Metal were the top performers, while heavy beating continued in the Realty segment followed by Auto. After dramatic swings in both directions, the Midcaps and Smallcaps ended the day in the red, with losses of 0.26% each.
The Index formed a long-legged Doji candlestick pattern at the 22,800 level, signalling indecisiveness between bulls and bears. Going forward, the 22,800 level remains a solid support, while the 23,200-23,240 zone will act as a tough resistance.
Ajit Mishra – SVP, Research, Religare Broking
Markets remained volatile after five consecutive days of decline, ultimately ending flat amid mixed cues. The session started on a weak note, but a gradual recovery in select heavyweight stocks helped trim losses as the day progressed. As a result, the Nifty index closed at 23,045.25 level.
Sectoral trends were mixed, keeping traders engaged—metals, banking, and financials saw some respite, while realty and auto were among the top laggards.
Persistent selling by FIIs, coupled with mixed earnings, continues to weigh on market sentiment, while uncertain global cues add to the pressure. On the technical front, Nifty rebounded after testing its January low of around 22,800, and sustaining above this level could offer some relief. However, the broader trend remains negative unless a clear reversal pattern emerges. Given the current scenario, traders should exercise caution and continue with a hedged approach.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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