Stock Market News Today: Nifty, Sensex Resume Weekly Losses As IT Stocks Lead Drag Over AI Fears

• Indian equity benchmarks resumed weekly losses after a breather last week, led by the declines in the information technology stocks cause by the global tech rout over AI fears. The BSE Sensex fell nearly 1.2% lower to end the week at 82,626.75, while the NSE Nifty 50 settled below 25,500. On Friday, the 30 stock index fell over 1,000 points, while the 50-stock index fell 1.3%. The declines were caused by the rout in IT stocks, which tracked the losses in the tech share in Wall Street since last two days. 
• On Friday, the declines in the benchmarks were led by the shares in HDFC Bank and Reliance Industries. All the sectoral gauges tracked by NSE ended lower, led by the NSE Nifty Metal Index's 3.3% losses.
• The market breadth was firmly tilted in favour of sellers. About 2,885 shares declined and 1,315 stocks advanced on BSE.

Physicswallah

• Stock rebound after falling as much as 4.9% to rise as much as 11.1%
• Trading volume was more than nine times its 20-day average

Eternal

• Stock fell as much as 4.5% to Rs 284.75
• Trading volume was 33% below its 20-day average

SpiceJet

• Stock fell as much as 16.5% to Rs 17.05
• Trading volume was more than five times its 20-day average

• Long buildup: Bajaj Finance, Eicher Motors
• Short covering: Piramal Pharma, Hindustan Aeronautics
• Long unwinding: BSE, Kalyan Jewellers India
• Short buildup: Muthoot Finance, NMDC

 

>>

• Linde India rose 7.4% while peers declined; trading volume was 5x the 20-day average. KPR Mill gained 9.2% with volume 79% above the 20-day average.
• Vardhman Textiles climbed 7.6% on volume 3x the 20-day average and is up 25% over the past 30 days; Signature Global India rose 5.9% on more than 2x the 20-day average and is up 17% in the past five days.
• Blue Jet reported a weak Q3, with profit down 59% YoY and EBITDA down 64% YoY; the stock fell 10% intraday, its biggest fall since Nov 4, on volume of more than 4x the 20-day average.

• Hindustan Unilever said Kwality Wall’s has received stock exchange approval to list and trade from February 16.
• The update was shared through an exchange filing.

 

• European shares opened lower after an overnight sell-off on Wall Street linked to AI fears.
• The Stoxx 600 was down 0.1% shortly after the open, with most sectors and major bourses in negative territory.
• The FTSE 100 traded 0.3% higher, while France’s CAC 40 fell 0.3%; Italy’s FTSE Mib was down 0.3% and Germany’s DAX slipped 0.1%.

>>

Info Edge Q3 Highlights (Consolidated, QoQ)

• Revenue up 1.7% at Rs 819 crore versus Rs 805 crore.
• EBIT up 6% at Rs 264 crore versus Rs 249 crore.
• EBIT margin at 32.2% versus 30.9%.
• Net profit down 14.1% at Rs 272 crore versus Rs 316 crore.
• Company reported a one-time loss of Rs 51.9 crore in Q3.
• Company announced an interim dividend of Rs 2.40 per share

Biocon Biologics Commentary

• May See Margin Erosion In Legacy Products  
• New Products To Contribute To Better Margins  
• Seeing Operating Leverage As The Biz Ramps Up  
• Expect Consistent Double-Digit Growth On YoY-Basis  
• Growth Trend Evolved In Last 4 Quarters  
• Saw Robust Revenue Growth In Last 8 Quarters

• Two-wheeler wholesales rose 26.2% year-on-year to 19.26 lakh units; within this, motorcycles increased 20.3% to 11.3 lakh units and scooters climbed 36.9% to 7.51 lakh units.
• Passenger vehicle wholesales grew 12.6% to 4.49 lakh units, while three-wheeler wholesales rose 30.2% to 75,725 units.
• Total exports increased 23.5% to 5.71 lakh units year-on-year.

>>

• Bharat Coking Coal said its Block-E project will increase the company’s production by 15%.
• The company said tendering for a 15-MTPA project is scheduled in the current financial year.
• It also said it has operationalised a 2 MTPA Bhojidih washery in West Bengal, according to an exchange filing.

• The Nifty IT index cut losses and was down about 1%, compared with around 5% at the open.
• TCS recovered nearly 100 points from the day’s low, while Infosys recovered nearly 80 points.
• Persistent Systems moved into positive territory after recovering over 300 points; Tech Mahindra, Persistent and Mphasis led the rebound, though 7 of the 10 Nifty IT stocks were still trading lower.

• The Nifty IT index recovered during the session after the day’s drop of about 1,700 points.
• It was last trading around 600 points lower, implying a rebound of about 1,100 points from the intraday low.
• The move comes even as the index remains in a sharp decline phase, described as its worst rout since the Lehman crisis.

>>

• Long buildup: Max Financial, HAL
• Short covering: Cummins India, IRCTC
• Long unwinding: NMDC, NALCO; Short buildup: Muthoot Finance, KPIT Tech

• Citi downgraded PI Industries to Sell from Buy and cut its target price to Rs 2,675 from Rs 4,150.
• The brokerage cited a weaker third-quarter performance, weak FY26 guidance from Kumiai, and price cuts in pyroxasulfone.
• Kumiai guided for a decline in Axeev (pyroxasulfone) sales over November 2025 to October 2026.

>>

• Moshe Katri told NDTV Profit he sees the market in the second to third year of a 10-year Gen AI cycle.
• He said IT services stocks are going through a ‘doomsday’ phase and the sell-off looks “a little over done”.
• He said he expects a decoupling of revenue from headcount in IT companies.

Honasa Consumer (Mamaearth) (Consolidated, YoY)

• Revenue up 16.2% at Rs. 602 crore versus Rs. 518 crore
• Ebitda up 150.6% at Rs. 65.4 crore versus Rs. 26.1 crore
• Ebitda Margin up 590 bps at 10.9% versus 5.0%
• Net Profit up 93.1% at Rs. 50.2 crore versus Rs. 26 crore

Shares of Muthoot Finance 12.1% to Rs 3,676.

Muthoot Finance (Standalone, YoY)

• Revenue up 53.6% at Rs. 4,467 crore versus Rs. 2,909 crore
• Calculated NII up 64.2% at Rs. 4,467 crore versus Rs. 2,721 crore
• Net Profit up 94.9% at Rs. 2,656 crore versus Rs. 1,363 crore

Engineers India

• Stock rose as much as 14.3%
• Trading volume was more than 50 times its 20-day average

Billionbrains Garage Ventures (Groww)

• Stock fell as much as 1.9%
• Trading volume was more than double its 20-day average

Honasa Consumer

• Stock rose as much as 6.7% to Rs 319.55
• Trading volume was almost 140 times its 20-day average

Puravankara

• Stock rose as much as 9.7% to Rs 280
• Trading volume was more than 50 times its 20-day average

>>

• Indian benchmarks extended losses for a second straight session, led by declines in Infosys.
• The BSE Sensex fell over 600 points to 83,023 in early trade.
• The NSE Nifty 50 slipped 0.8% to 25,605, opening near 25,600.

The Indian rupee strengthened at the open against the US dollar. The local currency appreciated to 90.59 against the greenback compared to Thursday's close of 90.67.

Indian equity benchmarks declined in the pre-market trade, extending declines for the second consecutive trading session. The BSE Sensex fell over 500 points while the NSE Nifty 50 traded below 25,600 in the pre-market session.

IRCTC Q3FY26 (Consolidated) Results

• Net profit up 15.6% at Rs 394 crore versus Rs 341 crore year over year.
• Revenue up 18.4% at Rs 1,449 crore versus Rs 1,225 crore year over year.
• Ebitda up 11.7% at Rs 465 crore versus Rs 417 crore year over year.
• Ebitda margin at 32.1% versus 34% year over year.
• Company to pay interim dividend of Rs 3.5 per share

• Market analysts and brokerage firms have listed five high-conviction trading ideas for the next session, focused on defence, metals and automotive.
• The picks include Bharat Electronics (BEL), Tata Steel, Bajaj Finance, Bharat Forge and Zydus Lifesciences.

Read the full report here

• The Hang Seng Index opened 392.38 points lower, down 1.45%, at 26,640.16.
• The Hang Seng Tech Index fell 85 points, down 1.58%, to 5,323.
• The decline was broad-based, with losses across technology and financial stocks.

• Infosys ADR fell 8.22% to $14.46 in Thursday’s US trade, near the day’s low.
• Wipro ADR was last down 4.60% to $2.28 on the NYSE.

• Asia-Pacific markets opened mostly lower on Friday after US stocks fell for a third straight session on concerns linked to artificial intelligence disruption.
• From the market screen, Japan’s Nikkei 225 fell 1.69%, Australia’s S\&P/ASX 200 dropped 1.28% and South Korea’s Kospi declined 0.48%.
• Japan’s Topix was down 0.58% and South Korea’s Kosdaq fell 1.36%; Hang Seng index futures stood at 26,703 versus the index’s last close of 27,032.54.

• GIFT Nifty fell 0.7% to 25,677.
• The move points to a negative open for Indian equities.