Around 136 stocks hit upper circuit on Bombay Stock Exchange (BSE), Wednesday, February 12, amid an across-segments market decline.
Windsor Machines, Mirae Asset Hang Seng Tech ETF, Innovative Ideals and Services (India) Ltd were among the stocks that hit upper circuit on Wednesday.
Stock market today
Extending its losing streak for the sixth straight session, the Sensex settled at 76,171.08, declining by 123 points or 0.16 per cent. Meanwhile, the Nifty 50 slipped 27 points, or 0.12 per cent, to close at 23,045.25.
The BSE Midcap and Smallcap indices declined by 0.45% and 0.49%, respectively.
The total market capitalization of BSE-listed companies fell to ₹407.5 lakh crore from ₹408.5 lakh crore in the previous session.
Over six consecutive losing sessions, the Sensex has dropped 2,413 points (3%), while the Nifty 50 has declined by 694 points (2.92%). Investors have collectively lost nearly ₹18 lakh crore, as the total market capitalization of BSE-listed firms was ₹425.5 lakh crore on February 4, the last time the Sensex closed in positive territory.
“Markets started flat but moved sharply lower before recovering to close with minor losses on buying interest in bank stocks. Selling pressure intensified in the morning as Nifty retested the lows around 22800 level before staging a comeback to close above 23000 level. Banks and Financials relatively outperformed given the relative valuation comfort. Markets are keenly awaiting the PM Modi’s meeting with Trump for clues on tariffs for Indian exports while global cues remained weak as Fed chair Powell indicated no rush for further rate cuts in US, which is a negative for Emerging Markets like India as US Dollar strengthened and foreign outflows continue.
Technically, Nifty50 is once again back at the critical support levels around 23000 with 22800 acting as immediate support on the downside again while on the upside, 23200-23300 zone acts as next resistance. Bank Nifty posted small gain in today’ session but remained below 50000 level with 49000 acting as next support,” said Satish Chandra Aluri, Lemonn Markets Desk.
