Southern Infosys, RRP Semiconductor among 48 BSE listed stocks hit upper circuit; defy Sensex slump

As many as 48 BSE-listed stocks soared to fresh 52-week highs, defying the ongoing market downturn. This came even as the benchmark indices, Sensex and Nifty 50, continued their losing streak, marking their biggest weekly loss in two months.

Despite the gloomy trend, stocks such as SBI Cards and Payments, Southern Infosys, RRP Semiconductor Ltd, Naturite Agro Products Ltd, and Cupid Breweries And Distilleries Ltd were among those hitting the upper circuit during yesterday’s trading session on February 14. The Sensex and Nifty closed lower for the eighth consecutive session, a rare occurrence not seen in two years.

Market Overview

Domestic equity benchmarks continued their descent, with Sensex shedding 199.76 points (0.26%) to settle at 75,939.21, while Nifty dropped 102.15 points (0.44%), closing at 22,929.25. This marked the eighth day of losses, driven by concerns over foreign fund outflows and weak corporate earnings. Analysts are particularly wary of potential negative impacts from US President Donald Trump’s proposed reciprocal tariffs, which could hit India the hardest among Asian markets.

The Sensex experienced a significant intra-day decline of 699.33 points, touching a low of 75,439.64 before settling. On a weekly basis, the BSE benchmark lost 1,920.98 points (2.46%), and Nifty slid 630.7 points (2.67%). The small-cap and mid-cap indices also took a hit, with declines of 3.24% and 2.59%, respectively.

Investor Sentiment

Experts pointed to ongoing volatility and risk aversion as key factors affecting market sentiment. “Investors, without any positive cues, are booking profits, especially in frontline and sectoral stocks. The market remains under pressure due to persistent foreign fund outflows and a falling rupee, which has dampened overall sentiment,” said Prashanth Tapse, Senior VP (Research) at Mehta Equities.

Stock Market Impact

Over the past eight days, the market capitalization of BSE-listed companies plummeted by ₹25.31 lakh crore, leaving the total market value at ₹4,00,19,247 crore ($4.61 trillion). The small-cap index is down 21.6% from its record high in December 2024, entering bear territory, while mid-caps have fallen 18.4% from their peak in September 2024.

Despite the overall market decline, certain penny stocks and mid-cap stocks have bucked the trend, defying the broader market slump and posting multibagger returns.

Outlook

Experts predict continued market volatility, with concerns over corporate earnings and international trade tensions. “The sentiment remains cautious as earnings reports fall short of expectations, especially for mid- and small-cap stocks. Market volatility is likely to persist until there’s clarity on trade tariffs and a recovery in corporate earnings,” stated Vinod Nair, Head of Research at Geojit Financial Services.

Disclaimer: Investors are advised to consult certified experts and consider individual risk tolerance before making investment decisions.