Indian equity benchmarks ended in the red on Thursday, February 12, 2026, as a heavy sell-off in technology giants snapped a four-day winning streak. The BSE Sensex tumbled 558.72 points, or 0.66%, to settle at 83,674.92. Similarly, the NSE Nifty 50 declined by 146.65 points, or 0.57%, closing at 25,807.20. The downturn was primarily triggered by the Nifty IT index, which slumped over 5% to reach a 10-month low. Market sentiment was dampened by concerns over AI-led disruptions and waning hopes for a U.S. Fed rate cut following robust American economic data. Technology heavyweights were the major laggards. Infosys and Tata Consultancy Services (TCS) both plunged nearly 6%, while Tech Mahindra and Wipro saw significant declines. This followed a sharp drop in the ADRs of Indian IT firms on Wall Street. Corporate earnings for the December-ended quarter (Q3FY26) remained the central focus. SpiceJet reported a consolidated net loss of 261.38 crore, shifting from a profit in the previous year despite a 14% rise in revenue to 1,408 crore. The airline cited higher fuel costs and a one-time labor law impact of 18.6 crore. Coal India also faced pressure, reporting a 16% decline in consolidated net profit to 7,166 crore for the quarter. Despite the profit dip, the state-owned miner declared a third interim dividend of 5.5 per share, with the record date set for February 18. In contrast, other sectors provided a cushion against deeper losses. Finance and telecommunication stocks witnessed buying interest. Top gainers included Bajaj Finance, ICICI Bank, and Trent. Lenskart emerged as a standout performer, surging 12% intraday after reporting a multi-fold jump in net profit to 132.7 crore. Broader markets showed resilience compared to the benchmarks. The BSE MidCap Select Index fell a modest 0.48%, while the SmallCap Select Index slipped 0.28%. Analysts note that while IT faces structural challenges, performing sectors like banking and automobiles maintain a resilient undertone. The Indian Rupee closed stronger at 90.61 against the U.S. Dollar. Global oil prices remained relatively stable, with Brent crude trading near 69 per barrel. While volatility is expected to persist, foreign institutional investors (FIIs) have recently turned net buyers, providing some structural support to the market. [Sensex drops over 550 points](https://www.youtube.com/watch?v=J2QL5UL2nMs) This video provides a detailed breakdown of the IT sector's impact on the recent market decline and highlights key earnings reports from major companies. http://googleusercontent.com/youtube_content/0