Friday the 13th, a date steeped in superstition and caution, so much so that it even has its own tongue-twisting phobia, Paraskevidekatriaphobia, may send chills through popular Western culture, but it seems to hold little sway over Dalal Street, where markets tend to move more on fundamentals than folklore.

A closer look at the past 16 Friday-the-13th trading sessions in the last decade suggests that markets in India are far more driven by fundamental factors. In fact, contrary to the long-held western belief that the day brings misfortune, historical exchange data shows no consistent pattern of negative performance in Indian equities.

Data further punctures the Friday-the-13th myth on Dalal Street. The Indian market has actually closed higher in 56.25% of the last 16 such sessions — that’s 9 positive finishes. In some instances, gains were outright strong: on March 13, 2020, the Nifty 50 surged as much as 4% in a single day, while both September 13 and December 13 in 2019 ended about 1% higher. The trend continued on August 13, 2021, and December 13, 2024, when markets again posted gains of roughly 1%.

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On the flip side, declines on the “unlucky” day have generally been modest. The sharpest drop over the past decade came on May 13, 2016, when the Nifty slipped just over 1%, while the mildest fall was recorded on July 13, 2018, with a negligible 0.04% decline.

What happened today?

In today’s session, however, bears have haunted investors. Benchmark indices Sensex and Nifty plunged 1% each on Friday, extending losses for a second straight session as a deepening selloff in IT stocks rattled investor sentiment amid mounting fears of AI-led disruption. Heavyweights Infosys, TCS, HCLTech and Wipro emerged as key laggards. The sharp decline eroded about Rs 4.62 lakh crore in investor wealth, pulling total BSE market capitalisation down to around Rs 467 lakh crore.

The 26,000 zone remains a strong overhead supply area, reinforced by heavy call writing and repeated rejection. Immediate support has shifted to 25,700. Below this, the 25,650–25,550 zone becomes critical as it aligns with the 20-day and 100-day EMAs — making it an important structural cushion. As long as this broader support band holds, the overall trend remains mildly constructive despite short-term weakness.Also read: Info Edge Q3 Results: Naukri.com parent posts 12% YoY rise in cons PAT at Rs 272 crore; revenue up 13%

“Momentum indicators are signalling caution. RSI has cooled, and upside strength is fading. A decisive breakdown below 25,700 may extend the decline towards 25,600 or lower levels. On the upside, only a sustained move above 25,900–26,000 can revive bullish momentum, potentially pushing the index towards 26,100–26,300,” Ponmudi R, CEO of Enrich Money, said.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)