Buzzing Stocks: 48 BSE-listed stocks hit upper circuit to defy Sensex, Nifty's biggest weekly loss in two months

Buzzing stocks: As many as 48 BSE-listed stocks defied the market slump and hit fresh 52-week highs in the previous market session, even as domestic equity benchmarks Sensex and Nifty 50 extended their losing streak for eight straight sessions for the first time in two years. The frontline indices fell over three per cent each to log the biggest weekly market slump in the past two months.

BSE-listed stocks such as SBI Cards and Payments, Southern Infosys, RRP Semiconductor Ltd, Naturite Agro Products Ltd, Midwest Gold Ltd, GHV Infra Projects Ltd, Cupid Breweries And Distilleries Ltd, Jyothi Infraventures Ltd, among others, hit upper circuits during yesterday's trading session on Friday, February 14. This came even as the Nifty 50 and Sensex closed lower amid a bear grip.

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Stock market today

Domestic equity benchmarks Sensex and Nifty 50 extended their losing run to the eighth day on Friday, dragged by persistent foreign fund outflows and weak quarterly earnings by corporates. Investors are worried about the implications of US President Donald Trump's plans to impose reciprocal tariffs, which analysts say could hurt India the most among its Asian peers.

The 30-share BSE benchmark Sensex dropped 199.76 points or 0.26 per cent to settle at 75,939.21 with 21 of its constituents ending lower. During the day, it tanked 699.33 points or 0.91 per cent to 75,439.64. The NSE Nifty declined 102.15 points or 0.44 per cent to settle at 22,929.25 on Friday.

On the weekly front, the BSE bellwether gauge plunged 1,920.98 points or 2.46 per cent, and the Nifty declined 630.7 points or 2.67 per cent. In eight trading days to Friday, the BSE benchmark has tumbled 2,644.6 points or 3.36 per cent, and the Nifty slumped 810 points or 3.41 per cent. The BSE smallcap gauge tanked 3.24 per cent, and the midcap index dropped 2.59 per cent.

Also Read: Nifty 50 down 13% from its record high. 5 signs that indicate a rocky road ahead

D-Street experts on stock market crash

“Benchmarks slipped below their crucial psychological levels of 76,000 and 23,000 in a volatile trading session as investors, without any positive cues, continue to book profits in frontlines and sectoral stocks. The gloomy mood continued as investors are perturbed by lingering foreign fund outflows and the falling rupee against the dollar, which has dampened the sentiment," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Investors' wealth eroded by ₹25.31 lakh crore in eight days of the market crash. Tracking an extremely weak trend, the market capitalisation of BSE-listed firms dropped by ₹25,31,579.11 crore to ₹4,00,19,247 crore ($4.61 trillion) in eight days. The small-cap index is down 21.6 per cent from its record closing high on December 11 confirming bear territory. The mid-caps are 18.4 per cent below their peak closing level on September 24, 2024.

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“The risk-averse sentiment continues to rule investors’ minds as corporate earnings are significantly lower than the market expectations during the start of the year, especially for mid- and small caps. Volatility is expected to stay elevated until there is clarity on tariffs and a recovery in corporate earnings,” said Vinod Nair, Head of Research at Geojit Financial Services.

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts, consider individual risk tolerance, and conduct thorough research before making investment decisions, as market conditions can change rapidly, and individual circumstances may vary.