Indian share markets continued their losing streak for the fifth consecutive session as Sensex and Nifty 50 declined 1.5 percent on February 11. The sell-off was triggered by a combination of Donald Trump’s fresh tariff actions, a weakening rupee, disappointing Q3 earnings, and ongoing foreign investor outflows.
At 2:40 PM, the Sensex was down 1,192 points or 1.5 percent at 76,119, and Nifty dropped 368 points or 1.6 percent to 23,013. The market breadth was negative, with 3,215 stocks declining as opposed to just 371 advancing on the BSE.
The 13 sectoral major indices all traded in the red, with financials, oil & gas, and auto stocks leading the decline. The broader markets were the most affected, with the BSE Midcap and BSE Smallcap indices plummeting 3 percent and 4 percent, respectively. India VIX, a measure of market volatility, surged 5 percent to breach 15, indicating growing investor anxiety.
The Nifty Realty Index dived 4 percent, officially entering a bear market after falling 26 percent from its June 2024 peak of 1,157.35. All the 10 index stocks fell 2-6 percent, with Sobha and Oberoi Realty being the biggest losers.
In the auto sector, Eicher Motors dived nearly 6 percent following disappointing Q3 FY25 profit and margin expectations due to higher costs and weak premium motorcycle sales.
Other major losers included Apollo Hospitals, Shriram Finance, Bharat Electronics, and HDFC Life, which fell 3-6 percent. Adani Enterprises, Grasim, and Bharti Airtel, however, managed to post marginal gains of about 1 percent. The weakening Indian rupee depreciated further to 87 against the dollar, burdened by Trump’s tariff policies, which have strengthened the US dollar globally.
Do you have a news tip for Lakshmishree reporters? Please email us at media@lakshmishree.com.
Source: Moneycontrol.
News Desk
