Equity benchmarks continued their downward trajectory in Tuesday’s afternoon trade, with selling pressure intensifying across sectors amid persistent foreign fund outflows.

The BSE Sensex traded at 75,799.77, down 197.09 points or 0.26 per cent from its previous close, while the NSE Nifty declined 78.45 points or 0.34 per cent to 22,881.05 at 12.30 PM.

The market breadth remained significantly negative, with 2,984 stocks declining against 836 advances on the BSE. Concerning 649 stocks hit their 52-week lows, while only 45 stocks touched their 52-week highs, indicating broader market weakness. The selling pressure was evident in the circuit filters, with 443 stocks hitting their lower circuit compared to 99 stocks reaching their upper circuit limits.

Technology stocks showed resilience, with Tech Mahindra leading the gainers, up 1.28 per cent, followed by Apollo Hospitals rising 1.15 per cent and Wipro gaining 0.92 per cent. Banking majors Axis Bank and Kotak Mahindra Bank managed marginal gains of 0.21 per cent and 0.14 per cent respectively.

However, the selling pressure was more pronounced in consumer and industrial stocks. Trent emerged as the top loser, falling 3.17 per cent, followed by Bharat Electronics Limited dropping 2.31 per cent, and Mahindra & Mahindra declining 2.21 per cent. UltraTech Cement and Adani Enterprises also witnessed significant selling, falling 1.79 per cent and 1.61 per cent respectively.

The broader market indices faced stronger headwinds, with the Nifty Midcap Select index falling 1.10 per cent to 11,049.65. The banking sector also remained under pressure, with the Nifty Bank index down 0.41 per cent at 49,057.20, while the Nifty Financial Services index showed relatively better resilience with a marginal decline of 0.19 per cent.

The market sentiment continues to be affected by sustained foreign institutional investor (FII) selling, which has reached ₹1,20,494 crore in 2025. Traders are also maintaining caution ahead of Wednesday’s FOMC minutes release, while the rupee’s 1.5 per cent depreciation this year has added to inflationary concerns. The rise in Brent crude prices following a Ukrainian drone attack on a Russian oil facility remains another key factor influencing market dynamics.

Published on February 18, 2025