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KKN Gurugram Desk | The Indian stock market faced sharp declines on Wednesday, February 12, as selling pressure gripped most sectors except IT. Both the S&P BSE Sensex and NSE Nifty50 opened lower and extended losses in early trade, reflecting negative investor sentiment. Stock Market Opening: Sensex and Nifty Start in the Red At 9:43 AM, the BSE Sensex was trading at 75,797.12, down 496.48 points or 0.65%. Meanwhile, the Nifty50 index of the National Stock Exchange (NSE) was at 22,923.50, a decline of 148.30 points or 0.64%. Market breadth was weak, with 40 out of 50 Nifty stocks trading in the red, nine in the green, and one remaining unchanged. Top Stock Movements at Market Open Vodafone Idea (IDEA) fell 3.97% Steel Authority of India (SAIL) gained 3.08% Infosys (INFY) declined 1.21% Tech Mahindra (TECHM) edged up 0.29% Tata Consultancy Services (TCS) slipped 0.32% Despite weakness across sectors, IT stocks showed relative strength, with some names like Tech Mahindra and Infosys trading in the green. Market Update: Sensex and Nifty Extend Losses By 10:19 AM, selling pressure intensified, pulling markets further down. The Sensex was trading at 75,540.79, down 752.81 points (0.99%), while the Nifty50 fell to 22,847.25, down 224.55 points (0.97%). The 30-share BSE index witnessed a sharp decline, hitting an intraday low of 75,430.22, marking a fall of 862.9 points from the previous close. Sectoral Performance: IT Stocks Hold, Others Under Pressure Most sectors witnessed a decline, with IT being the only segment showing resilience. Financials, auto, metals, and FMCG stocks were among the biggest losers. Nifty50 Stock Performance Losers: Mahindra & Mahindra (M&M) Bharat Electronics Limited (BEL) Reliance Industries (RIL) IndusInd Bank Axis Bank Gainers: Tata Consultancy Services (TCS) Tech Mahindra Infosys HCL Technologies Wipro The weak sentiment in banking and auto stocks weighed heavily on the market, while IT stocks benefited from safe-haven buying amid global uncertainty. Foreign Institutional Investors (FIIs) Selling Intensifies Foreign Institutional Investors (FIIs) continued selling in the Indian equity market. On Tuesday, February 11, FIIs net sold equities worth ₹4,486.41 crore, contributing to the bearish sentiment in domestic stocks. The persistent outflow of foreign capital signals risk aversion among global investors, who remain cautious amid geopolitical tensions and interest rate concerns. Stocks in Focus: Vodafone Idea and SAIL Vodafone Idea (Vi) Stock Drops After Q3 Results Shares of Vodafone Idea fell sharply on Wednesday, a day after the company reported its Q3 FY25 earnings. The stock dropped 5.44% to ₹8.34 per share on the NSE. Vi reported consolidated net loss of ₹6,609.3 crore, compared to ₹6,985.9 crore in the same quarter last year. Revenue from operations saw a 4% increase, rising to ₹11,117.3 crore from ₹10,673.1 crore in the previous year. Despite improved revenue, the company's losses continued, impacting investor confidence. Steel Authority of India (SAIL) Gains Despite Weak Earnings Shares of SAIL saw buying interest, gaining 3.44% to ₹103.60 per share in early trade. The government-owned steel company reported a 66% drop in consolidated net profit, which stood at ₹141.89 crore for Q3. The decline was due to higher operational expenses and increased raw material costs. Even with weak earnings, positive sentiment in the steel sector supported SAIL's stock. Broader Market Performance: Heavy Selling in MidCaps and SmallCaps Selling pressure was more pronounced in the broader market. MidCap and SmallCap indices suffered steeper declines compared to benchmark indices. At the time of writing: The BSE MidCap index was at 40,058.13, down 888.09 points (2.17%). The BSE SmallCap index fell to 45,992.86, a loss of 1,376.41 points (2.91%). The sharp drop in mid and small-cap stocks indicates profit booking and risk aversion among investors. Key Factors Impacting Stock Market Today 1. Global Market Trends Indian equities took cues from weak global market performance, as major indices in the US and Europe closed lower. 2. FII Selling Pressure Consistent selling by Foreign Institutional Investors (FIIs) has led to weakness in the market. FII outflows impact liquidity and sentiment, leading to increased volatility. 3. IT Stocks Resilience Despite the market downturn, IT stocks remained relatively strong, benefiting from rupee depreciation and stable global demand for tech services. 4. Q3 Earnings Impact Corporate earnings season continues to drive stock-specific movements. While Vodafone Idea struggled, SAIL's stock found support despite weak profits. 5. Economic and Policy Updates Market participants are keeping a close watch on inflation data, RBI policies, and global economic indicators, which could impact future market trends. Market Outlook: Will the Downtrend Continue? The stock market remains under pressure due to global uncertainties, FII selling, and sectoral weakness. However, IT stocks have emerged as a safe-haven for investors. Key levels to watch: Nifty50 Support: 22,800-22,750 zone Nifty50 Resistance: 23,000-23,100 Sensex Support: 75,300-75,200 Sensex Resistance: 76,000-76,200 Short-term sentiment remains bearish, but any signs of FII buying or positive global cues could help markets recover. The Indian stock market started on a negative note on February 12, 2025, with the Sensex and Nifty extending losses in early trade. Broader markets saw heavy selling in MidCap and SmallCap stocks. IT stocks were the only sector to show strength. FII selling intensified, leading to further pressure on the market. Vodafone Idea stock dropped after weak Q3 results, while SAIL gained despite profit decline.

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