Last Updated on November 13, 2026 4:54 pm by INDIAN AWAAZ
By Our Business Correspondent
Domestic equity markets retreated on Friday, snapping a three-session winning streak, as persistent weakness in the rupee against the US dollar and renewed uncertainty surrounding the global artificial intelligence industry dampened investor appetite. Selling pressure was broad-based, with realty, automobile and metal stocks emerging as the biggest laggards.
The benchmark Nifty 50 slipped below the psychologically significant 25,150 mark, while the BSE Sensex declined more than 300 points, reflecting a cautious approach among investors amid a volatile global economic and financial environment.
According to provisional closing data, the S&P BSE Sensex fell 318.56 points, or 0.39%, to settle at 81,592.45. The NSE Nifty 50 declined 155.05 points, or 0.61%, to close at 25,144.30.
The decline came after a strong three-session rally during which the Sensex and Nifty had gained 1.25% and 1.21%, respectively. Friday’s correction indicated that investors were increasingly inclined to book profits following the recent recovery, particularly in sectors that had witnessed sharp gains.
Market sentiment was further affected by developments in the global technology sector following the sudden resignation of Nvidia co-founder and chief executive Jensen Huang. The company confirmed his departure on November 12, appointing Chief Financial Officer Colette Kress as interim CEO while its board searches for a permanent successor. The leadership transition triggered concerns about continuity and strategic direction at one of the world’s most influential artificial intelligence chipmakers.
Broad-based selling across domestic markets
Weakness was not restricted to frontline stocks. The broader market also ended lower, although losses remained relatively moderate compared with the benchmark indices.
The Nifty MidCap 150 index declined 0.35%, while the Nifty SmallCap 250 index slipped 0.30%, indicating that selling pressure extended beyond large-cap companies.
Market breadth on the NSE remained firmly negative. As many as 2,179 shares declined against 1,466 advances, while 105 stocks ended unchanged. The negative advance-decline ratio highlighted the cautious undertone prevailing across the trading community.
The rupee also remained under pressure against the US dollar, adding to concerns about foreign capital flows, imported inflation and the cost of dollar-denominated commodities. The partially convertible currency was hovering around 94.2025 against the dollar, compared with its previous close of 94.1200.
A weaker domestic currency can increase the import bill for companies dependent on overseas raw materials, particularly oil, electronics and industrial inputs. It can also influence foreign portfolio investors’ returns when investments are converted back into dollars.
Realty stocks lead sectoral decline
All sectoral indices on the NSE finished in negative territory, with realty, automobile and metal stocks bearing the brunt of selling.
The Nifty Realty index declined 1.39% to 921.25, reversing part of the sharp 4.51% rally recorded in the previous trading session.
Prestige Estates Projects was among the biggest losers, falling 2.59%. Sobha declined 2.10%, Brigade Enterprises dropped 2.06%, Phoenix Mills slipped 1.61%, and DLF lost 1.37%.
Other notable losers included Godrej Properties, which declined 1.31%, Anant Raj (1.28%), Oberoi Realty (1.07%) and Lodha Developers (0.49%).
The sharp correction in realty stocks suggests profit-taking after the previous session’s substantial gains. Higher borrowing costs, currency-related inflation concerns and sensitivity to interest-rate expectations can also influence valuations in the property sector.
Automobile and metal stocks also faced selling pressure, reflecting concerns about input costs, demand conditions and the broader global economic outlook.
Corporate earnings trigger sharp stock-specific movements
Despite the overall weakness, several individual stocks witnessed significant movements following quarterly earnings announcements.
MSTC emerged as a notable outperformer, hitting its upper circuit limit of 20%. The company’s consolidated net profit increased 57.73% year-on-year to Rs 74.92 crore in the September quarter of FY27. Net sales rose 29.42% to Rs 110.02 crore compared with the corresponding quarter of the previous financial year.
The strong earnings performance attracted buying interest, demonstrating that company-specific financial results continued to influence individual stock movements despite the weak broader market.
On the other hand, Vodafone Idea declined 3.16% after reporting a wider consolidated net loss of Rs 5,975 crore for Q2 FY27, compared with Rs 5,524 crore in the corresponding quarter last year.
The loss also widened considerably from Rs 3,754 crore in the June quarter. However, the telecom operator reported a 6.2% year-on-year increase in revenue from operations to Rs 11,884 crore, against Rs 11,195 crore a year earlier. Revenue also improved 1.7% sequentially from Rs 11,689 crore in Q1 FY27.
The contrasting revenue and profitability trends underline the financial challenges facing the telecom operator, particularly in managing its substantial liabilities and funding requirements.
Ola Electric Mobility shares declined 3.08% after the company reported a 39% year-on-year fall in consolidated revenue from operations to Rs 421 crore in Q2 FY27. Revenue was also down 7.5% sequentially from Rs 455 crore in the previous quarter.
The company’s consolidated net loss narrowed to Rs 362 crore from Rs 418 crore a year earlier. However, it widened from Rs 336 crore in Q1 FY27, suggesting that the company’s operating performance continues to face pressure.
Global markets remain cautious amid Nvidia developments
Global market trends provided little encouragement to domestic investors. Asian equity markets ended mixed following overnight losses on Wall Street, while European indices traded mostly higher on Friday.
The resignation of Nvidia’s long-serving chief executive became a major talking point across international financial markets. The company’s announcement raised questions about leadership continuity at a time when artificial intelligence investment, semiconductor demand and data-centre infrastructure spending remain important drivers of global equity valuations.
US equities ended lower on Thursday. The Dow Jones Industrial Average declined 189.40 points, or 0.36%, to 52,297.09. The S&P 500 fell 26.98 points, or 0.35%, to 7,592.40, while the Nasdaq Composite dropped 100.10 points, or 0.39%, to 25,366.09.
Nvidia shares plunged 4.34% to $166.19, after falling as much as 14.3% during the session before recovering some losses. The company appointed Colette Kress as interim CEO, while Harvey C. Jones was named chairman of the board.
Interestingly, some semiconductor competitors gained ground despite the weakness in Nvidia. Advanced Micro Devices rose 5.86%, Broadcom advanced 5.54%, and Arista Networks gained 5.06%.
However, the broader AI infrastructure segment remained under pressure. Nebius Group plunged 16.84% after lowering its 2026 revenue outlook to the lower end of its earlier guidance range of $3 billion-$3.4 billion.
The contrasting performance of semiconductor companies suggests that investors are reassessing valuations, competitive positioning and the sustainability of investment in artificial intelligence infrastructure.
US economic data and rate expectations add to uncertainty
Macroeconomic developments in the United States also influenced global investor sentiment.
Initial jobless claims increased by 9,000 to 200,000 in the week ended November 7, compared with economists’ expectations of 195,000. The previous week’s figure was revised to 191,000. Continuing claims, however, declined by 20,000 to 1.697 million in the week ended October 31.
Separately, existing home sales in the US declined 5.5% in October to an annualised rate of 3.75 million units, below market expectations of 3.85 million. The figure represented the lowest level since August 2010, while sales were down 8.8% year-on-year.
Rising borrowing costs and uncertainty surrounding the economic outlook continued to weigh on housing demand.
Investors also remained watchful of the US Federal Reserve’s monetary policy outlook following stronger-than-expected inflation readings earlier in the week. Rising Treasury yields and expectations of further monetary tightening added to concerns about global liquidity and equity valuations.
Market participants were awaiting the October US Producer Price Index (PPI) data, scheduled for release later on Friday. Economists expected headline producer inflation to increase 0.4% month-on-month and 6.6% year-on-year, compared with increases of 1.3% and 6.3%, respectively, in September. These figures represented market forecasts and not released data.
Outlook: Currency movement, global cues to remain key drivers
The near-term direction of Indian equities is likely to depend on developments in the currency market, global interest-rate expectations, institutional investment flows and the interpretation of corporate earnings.
The rupee’s weakness remains an important variable, particularly for sectors dependent on imported commodities and overseas financing. At the same time, uncertainty surrounding the global AI industry could influence technology-related stocks and broader investor risk appetite.
Friday’s decline, however, needs to be viewed against the backdrop of the preceding three-session rally. The correction reflects profit-booking and a reassessment of global risks rather than, by itself, a definitive reversal of the broader market trend.
Investors are likely to remain selective, focusing on companies with strong earnings visibility, manageable debt levels and sustainable cash flows as markets navigate currency volatility and an uncertain global monetary-policy environment.
Disclaimer: This report is based on market data, company disclosures and publicly available information as of the close of trade on November 13, 2026. It is intended solely for informational and journalistic purposes and should not be construed as investment advice, a recommendation or an offer to buy or sell any securities. Investors should conduct their own research or consult financial advisors before making investment decisions.