Stock Market Today LIVE: Sensex down 400 points, Nifty 50 below 25,400 on US-Iran talk uncertainty; IT rises, banks drag
Stock Market Today LIVE: Indian stock markets benchmarks Nifty 50 and Sensex begin Friday’s session on a subdued note, tracking soft cues from Asia. Furthermore, US-Iran talks end without a deal, making the investors more cautious. With no major domestic catalysts in play, markets appear set to remain in a consolidation phase.
Bank, Financial Services, Auto, FMCG sectors were among the top draggers on NSE. Meanwhile, Information Technology (IT) stocks traded high of Friday, February 27 despite weak trends in the Indian stock market today.
The Nifty IT index rallied around 2.5% with almost all the constituents trading in the green. The sector has been under pressure through February, declining around 20% so far amid concerns that artificial intelligence-led disruption could impact traditional business models. The recent slide in global technology shares is likely to weigh further on sentiment.
Across Asia, markets were down about 0.7%, mirroring losses on Wall Street overnight. US equities closed lower despite strong quarterly results from Nvidia, widely seen as a bellwether for the AI trade and currently the world’s most valuable listed company. However, the stock declined after earnings as investors flagged valuation concerns.
In commodities, crude oil prices eased after touching nearly seven-month highs. The pullback followed indirect talks between the US and Iran in Geneva aimed at resolving their prolonged nuclear dispute and reducing the risk of escalation, which helped calm fears of supply disruptions.
Domestically, benchmark indices have lacked clear direction over the past two sessions, following Tuesday’s sharp 1.1% decline, as investors await fresh triggers.
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