Indian Markets Open Slightly Lower; IT Stocks Bear Brunt On US Visa Concerns

Indian benchmark indices began Monday on a softer note, despite encouraging global cues, with IT stocks leading the downturn amid apprehensions over the revised US H-1B visa regulations.

By 09:26 AM, the Sensex had slipped 189 points, or 0.23 per cent, to 82,772, while the Nifty fell 40 points, or 0.16 per cent, to 25,286.

Both indices had opened with sharper losses, 0.40 per cent for the Sensex and 0.33 per cent for the Nifty, but trimmed their early declines as the session progressed.

Major IT players, including Tata Consultancy Services (TCS), Infosys, Wipro, HCL Technologies, Tech Mahindra, and Coforge, were trading lower in morning deals.

The US government, however, clarified that returning visa holders will not be subject to the newly announced $100,000 fee, offering limited relief to Indian IT firms.

According to the White House, the levy is a one-time charge applicable only to new applications in the upcoming lottery cycle (March–April 2026) and will not affect renewals.

Broader indices also reflected modest losses, with the Nifty Midcap 100 down 0.05 per cent and the Nifty Smallcap 100 losing 0.12 per cent.

Among individual laggards were Tech Mahindra, TCS, Tata Motors, Apollo Hospitals, and Dr Reddy’s Laboratories.

Sectorally, Nifty IT led declines, falling 2.68 per cent, while Nifty Pharma and Nifty Healthcare dipped 0.45 per cent and 0.33 per cent, respectively. Other sectors recorded minor gains.

Technical Outlook

The Nifty remains resilient above the 25,300 mark, having closed at 25,327 in the previous session. It continues to trade above key moving averages, including the 20-day, 50-day, and 200-day EMAs, signalling a broad bullish bias.

Analysts expect sentiment to stay constructive as long as the index remains above these averages, with immediate resistance at 25,500, 25,600, and 25,850, and support levels at 25,150 and 25,000.

The market is anticipated to show a mixed pattern, with the IT sector impacted by H-1B developments, while domestic consumption themes may benefit from the reduced GST rates coming into effect today.

Experts added that the prevailing low-interest-rate environment will support consumption and credit growth, enhancing financial sector profitability.

In Asia-Pacific trading, most markets were higher on Monday, reflecting Friday’s Wall Street gains and China’s decision to maintain key lending rates.

On Wall Street, the Nasdaq rose 0.72 per cent, the S&P 500 gained 0.49 per cent, and the Dow inched up 0.37 per cent in the previous session.

Asian markets were broadly positive in morning trades: China’s Shanghai index rose 0.07 per cent, Shenzhen gained 0.17 per cent, Japan’s Nikkei advanced 1.45 per cent, Hong Kong’s Hang Seng slipped 0.82 per cent, and South Korea’s Kospi climbed 1.06 per cent.

On Friday, foreign institutional investors (FIIs) were net buyers of equities worth Rs 390 crore, while domestic institutional investors (DIIs) purchased equities totalling Rs 2,105 crore.

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