Market Wrap, February 12: SENSEX, NIFTY50 end lower for 6th session as investors remain cautious; 721 stocks hit 52-week low

The benchmark equity indices on Wednesday, February 12, ended lower for the sixth consecutive session as the investors remained cautious amid the ongoing trade wars and outflows from foreign investors.

Though the indices fell sharply during the day, the domestic equity indices staged a sharp recovery during the mid-market session as the key benchmark and broader indices recouped major losses.

At close, the S&P BSE SENSEX stood at 76,171.08, losing 122.52 points, or 0.16%, while the NSE's NIFTY50 index ended at 23,045.25, down 26.55 points, or 0.12%.

Market participants were cautious as US Treasury yields rose after testimony from Federal Reserve Chair Jerome Powell raised some doubt about the path toward lower rates. Rising crude oil prices also weighed on domestic sentiments.

Since February 4, the BSE bellwether gauge has slumped 2,412.73 points or 3.07%, while the Nifty tanked 694 points or 2.92%.

Crude oil prices rose amid concerns over Russian and Iranian oil supply and sanctions threats despite worries that escalating trade tariffs could dampen global economic growth.

On the global front, Asian markets traded mostly in green as investors digested US President Donald Trump’s tariff impact on regional economies.

Asian markets were trading mostly in green; Hang Seng advanced 325 points or 1.53% to 21,619.86, Jakarta Composite gained 42.82 points or 0.65% to 6,574.81, Shanghai Composite strengthened 0.96 points or 0.03% to 3,319.02, KOSPI increased 7.62 points or 0.3% to 2,546.67 and Nikkei 225 surged 104.46 points or 0.27% to 38,905.63.

However, Straits Times fell 2.08 points or 0.05% to 3,858.68 and Taiwan Weighted lost 43.65 points or 0.19% to 23,340.40.

Global oil benchmark Brent crude declined 0.78% to $76.40 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,486.41 crore on Tuesday, according to exchange data.

As many as 4,066 stocks traded on the BSE on Wednesday. Out of this, 2,435 declined and only 1,534 stocks advanced while 97 scrips remained unchanged.

A total of 45 stocks hit their 52-week highs while 721 stocks touched their one-year lows. Besides, only 7 stocks hit their upper circuit and lower circuit bands on Wednesday.

However, Mahindra and Mahindra (M&M), Eicher Motors, Bharat Electronics, Power Grid and IndusInd Bank were the biggest laggards, declining as much as 3.20% on the 50-share index.

The broader market closed lower with the BSE MidCap index ending at 40,869.3, losing 185.83 points, or 0.45%, while the BSE SmallCap index settled at 47,276.33 levels, declining 232.9 points, or 0.49%.

BSE Realty (-2.58%), Auto (-0.84%), Consumer Discretionary (-0.75%), Energy (0.7%) and Information Technology (-0.65%) were the biggest sectoral losers while BSE Metal (0.68%), Commodities (0.35%), Bankex and Financial Services both rising 0.28% were biggest gainers.