Indian equities witnessed a sharp sell-off on February 13 amid weak global cues and rising concerns over the disruptive impact of artificial intelligence on technology and other sectors.
The 30-share BSE Sensex fell 1,048 points, or 1.25 percent, to close at 82,626.76. The broader Nifty 50 declined 336 points, or 1.30 percent, to 25,471.10, slipping below the key 25,500 level.
Selling was more pronounced in the mid and small cap space.
BSE 150 MidCap Index dropped 1.58 percent
BSE 250 SmallCap Index fell 1.50 percent
The fear gauge, India VIX, surged over 13 percent, moving back above the 13 mark, signalling rising volatility.
The total market capitalisation of BSE-listed companies declined to ₹465 lakh-crore from ₹472 lakh-crore in the previous session, eroding nearly ₹7 lakh-crore of investor wealth in a single day.
Market sentiment weakened due to:
Uncertainty over AI-led disruption in global tech and services sectors
Fading optimism around the US–India trade narrative
Reduced expectations of US Federal Reserve rate cuts after strong US jobs data
Caution ahead of upcoming US inflation numbers
According to market analysts, concerns that Indian IT companies dependent on labour arbitrage could face heightened competition have dented risk appetite.
Only five Nifty stocks ended in the green:
Bajaj Finance (up 3.09 percent)
Eicher Motors (up 1.56 percent)
SBI Life Insurance Company (up 0.84 percent)
State Bank of India (up 0.33 percent)
Cipla (up 0.13 percent)
Major losers included:
Hindalco Industries (down 6.08 percent)
Hindustan Unilever (down 4.34 percent)
Adani Enterprises (down 3.83 percent)
Oil and Natural Gas Corporation (down 3.20 percent)
All sectoral indices closed in the red, led by:
Nifty Metal (down 3.31 percent)
Realty (down 2.23 percent)
FMCG (down 1.90 percent)
Oil and Gas (down 1.88 percent)
IT (down 1.44 percent)
Market breadth remained weak, with over 2,800 stocks declining against about 1,300 advancing on the BSE.
Technically, the Nifty has slipped below its 20-day moving average and breached key support at 25,500. Analysts see the possibility of further downside towards 25,000 in the near term, while immediate resistance is placed around 25,800.
