Markets Open Lower Despite IT Rally; Sensex Down 346 Points, Nifty Slips

The Indian equity markets opened on Friday with losses, despite strong gains in domestic IT stocks.

As of 9:20 AM, the Sensex fell 346 points, or 0.42 per cent, to 81,903, while the Nifty eased 113 points, or 0.44 per cent, to 25,383.

Broad-cap indices mirrored the benchmark trend, with the Nifty Midcap 100 declining 0.30 per cent and the Nifty Smallcap 100 down 0.37 per cent.

All sectoral indices traded in red except for Nifty IT, up 1.56 per cent, and consumer durables, which gained 0.34 per cent.

FMCG and auto led losses, falling 0.59 per cent and 0.54 per cent respectively, reflecting cautious investor sentiment.

Analysts noted that fluctuating oil prices amid the ongoing Middle East crisis are likely to keep markets wary.

Global tech weakness may keep Indian IT stocks under pressure, which have fallen over 20% in February due to AI disruption fears.

Nifty’s immediate resistance is 25,600–25,650, with support at 25,300–25,350.

Bank Nifty resistance lies in the 61,400–61,500 zone, with support at 60,800–60,900, according to market participants.

Asian markets opened mixed, with China’s Shanghai index down 0.17 per cent and Shenzhen easing 0.68 per cent.

Japan’s Nikkei fell 0.24 per cent, while Hong Kong’s Hang Seng gained 0.67 per cent. South Korea’s Kospi dropped 0.77 per cent.

US markets ended largely in the red overnight. Nasdaq declined 1.18 per cent, the S&P 500 fell 0.54 per cent, while the Dow Jones eked out a 0.03 per cent gain.

On February 26, FIIs sold ₹3,466 crore in equities, while DIIs bought ₹5,032 crore, reflecting mixed sentiment amid global tech, AI, and Middle East concerns.

IT stocks rose, but broader market pressure signals continued short-term volatility.

Also Read: Dr Priti Adani Calls For Women-Led Growth At ‘Sashakt Nari, Viksit Bharat’ Conference