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Updated February 12th, 2024 at 15:56 IST

Sensex ends 500 points lower, Nifty slips below 21,700; NTPC, Tata Steel among top losers

All the broad market indices ended in red today, with Nifty Smallcap 100 falling as much as 4.01% closely followed by Nifty Microcap 250, which fell 3.88%.

Business Desk
Stock market crash
Stock market crash | Image:Republic World
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Stock market news: Benchmark indices, S&P BSE Sensex and NSE Nifty 50 closed Monday, February 12, on a negative note ahead of the release of the consumer price index based inflation data. Even as the indices opened today a flat-to-bullish note, investors seemed to have lost enthusiasm as the day progressed. Sensex ended 523 points lower at 71,072.49 and Nifty 50 fell 166.45 points lower at 21,616.05.

All the broad market indices ended in red today, with Nifty Smallcap 100 falling as much as 4.01 per cent closely followed by Nifty Microcap 250, which fell 3.88 per cent. In the sectoral indices, only Nifty IT, Nifty Pharma, and Nifty Healthcare ended in green. While Nifty Media fell as much as 4.46 per cent, Nifty PSU Bank fell 4.43 per cent and Nifty Realty fell 2.97 per cent.

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“An uptick in exchange margin requirements caused a decrease in positions, primarily in mid and small caps. Aside from the pharma and IT sectors, selling was widespread, with notable struggles seen in PSU banks. The premium valuation gap between mid to large caps has notched to its all-time high. Despite a robust economic forecast, corporate earnings are expected to slow due to moderated operating margins. It is going to be a challenge for the broad market to sustain the premium valuation. Large caps are predicted to excel amid consolidation,” said Vinod Nair, Head of Research, Geojit Financial Services.
 

Sensex top gainers

  • Wipro: 2.26 per cent
  • HCL Tech: 2.09 per cent
  • M&M: 0.86 per cent
  • Infosys: 0.61 per cent
  • Nestle Ind: 0.40 per cent
  • Tech Mahindra: 0.36 per cent

Sensex top losers

  • Tata Steel: -2.76 per cent
  • NTPC: -2.72 per cent
  • SBIN: -2.26 per cent
  • IndusIndBank: -2.20 per cent
  • ITC: -2.11 per cent

Nifty top gainers

  • Dr Reddy: 2.68 per cent
  • Apollo Hospital: 2.60 per cent
  • Divis Labs: 2.28 per cent
  • Wipro: 2.18 per cent
  • HCL Tech: 1.77 per cent
  • M&M: 0.92 per cent

Nifty top losers

  • Coal India: -4.80 per cent
  • Heromotocorp: -4.27 per cent
  • BPCL: -3.89 per cent
  • ONGC: -3.66 per cent
  • Tata Steel: -2.69 per cent
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Published February 12th, 2024 at 15:56 IST

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