Paraskevidekatriaphobia! Is Friday the 13th really cursed for the Indian stock market?

Friday the 13th, a date steeped in superstition and caution, so much so that there is even talk of a tongue-twisting phobia, Paraskevidekatriaphobia, may send chills through popular Western culture, but seems to have little impact on Dalal Street, where the markets tend to move more on fundamentals than folklore.A closer look at the last sixteen trading sessions on Friday the 13th over the past decade shows that markets in India are much more driven by fundamentals. Contrary to the long-held Western belief that the day is bad luck, historical stock market data does not show a consistent pattern of negative performance of Indian stocks.

Data further shatters the myth of Friday the 13th on Dalal Street. The Indian market has actually closed higher in 56.25% of the last 16 such sessions – that’s 9 positive results. In some cases, the gains have been downright strong: On March 13, 2020, the Nifty 50 rose 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 around 1%.Also read: Rs 6 lakh crore wipeout in 8 days! Does AI rewrite the rules for India’s $250 billion IT industry?

On the other hand, declines on the ‘unlucky’ day were generally modest. The sharpest decline in the last decade occurred on May 13, 2016, when the Nifty fell just over 1%, while the mildest decline was recorded on July 13, 2018, with a negligible decline of 0.04%.

What happened today?

However, during today’s session, the bears have been chasing investors. Benchmark indices Sensex and Nifty fell 1% each on Friday, extending losses for the second straight session, as a deeper sell-off in IT stocks disrupted investor sentiment amid rising fears of AI-induced disruption. Heavyweights Infosys, TCS, HCLTech and Wipro emerged as the key laggards. The sharp decline eroded investment assets of around Rs 4.62 lakh crore, pushing the total BSE market capitalization down to around Rs 467 lakh crore.

The 26,000 zone remains a strong above-ground supply area, reinforced by many calls and repeated rejections. Immediate support has shifted to 25,700. Below this, the 25,650–25,550 zone becomes crucial as it aligns with the 20-day and 100-day EMAs – making it an important structural buffer. As long as this broader support band holds, the overall trend remains mildly constructive despite the near-term weakness. Also Read: Info Edge Q3 Results: Naukri.com parent posts 12% YoY increase in Cons PAT at Rs 272 crore; turnover increased by 13%

“Momentum indicators indicate caution. The RSI has cooled and the upside is waning. A decisive break below 25,700 could extend the decline towards 25,600 or lower levels. On the upside, only a sustained move above 25,900-26,000 could revive bullish momentum, potentially pushing the index towards 26,100-26,300,” Ponmudi said R, CEO of Enrich Money.

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