Market Opening Bell: Sensex drops over 100 points, Nifty slips below 23,050

Market Opening Bell: On Wednesday, February 12, benchmark indices Sensex and Nifty opened slightly lower amid mixed global cues, marking the market’s sixth consecutive session of decline. The 30-share BSE Sensex lost 104.61 points (0.14%) to reach 76,189 in early trade, while the NSE Nifty fell 18.20 points (0.08%) to 23,053

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Market Update: TCS, Infosys Lead Gainers; Sectoral Indices Decline Amid FII Outflows and Global Volatility

From the 30-share blue-chip pack, TCS, Infosys, Tech Mahindra, and HCL Tech led the gainers. In contrast, Mahindra & Mahindra, Zomato, Reliance, and Axis Bank led the laggards. Foreign institutional investors (FIIs) sold equities worth Rs 4,486.41 crore on a net basis in the capital markets on Tuesday, as per exchange data. Despite market volatility, both midcap and smallcap indices opened higher.

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Sectorally, all major indices fell in initial trade. Realty, Consumer Durables, IT & Telecom, Oil & Gas, and Auto stocks were among the losers. In Asian markets, Shanghai traded lower, while Seoul, Tokyo, and Hong Kong were in the positive territory. US markets closed mostly higher on Tuesday. The global oil benchmark, Brent crude, dropped 0.34% to USD 76.74 per barrel. Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, said, ‘Dalal Street faces pessimism as fears rise over further declines if Nifty falls below the crucial 23,000-mark. Key factors weighing on sentiment include Rs 1 lakh crore in FII outflows this year and ongoing concerns about Trump’s tariff threats.

Rupee Continues Recovery, Gains 27 Paise to 86.52 Against US Dollar Amid Easing Crude Prices

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Meanwhile, the rupee continued its recovery from the lowest level for the second consecutive session, appreciating by 27 paise to 86.52 against the US dollar on Wednesday. The recovery was supported by easing crude oil prices and measures taken by the Reserve Bank. The sharp surge followed a decline on Monday, when the rupee dropped to nearly 88 per US dollar during intraday trading, though it staged a dramatic rebound in the second half to end the session with gains at 87.