Sensex Slips 91 Points, Nifty Below 25,700; IT Index Falls 2.4%

Market Update at 12:12 PM: Indian equity benchmarks turned lower on Wednesday after opening on a flat note, halting their two-day gaining streak amid weakness in information technology stocks and rising volatility.

At 12:02 PM, the BSE Sensex was trading at 83,359.55, down 91.41 points or 0.11 per cent. The NSE Nifty 50 stood at 25,685.5, lower by 39.9 points or 0.16 per cent.

In the Sensex pack, Kwality Wall’s, Tata Steel, ITC, SBI, and Bajaj Finance led the gains, rising up to 3.4 per cent. On the other hand, Tech Mahindra, Infosys, HCL Tech, TCS, and Adani Ports were among the top laggards, declining up to 2.39 per cent.

In the broader market segment, the Nifty MidCap 100 index traded flat with a negative bias, while the Nifty SmallCap index was up 0.18 per cent.

The volatility gauge, India VIX, which measures market fear, climbed 2.54 per cent during Intraday trade, indicating heightened nervousness among investors.

Sectorally, the Nifty Metal index advanced 0.87 per cent, the Nifty PSU Bank index gained 1 per cent, and the Nifty FMCG index added 0.28 per cent. However, the Nifty IT index slipped sharply by 2.4 per cent, weighing on the broader market.

Market Update at 10:14 AM: Indian equities turned lower after a flat opening on Wednesday, snapping their two-day gaining streak amid weakness in information technology stocks.

At around 10:00 AM, the BSE Sensex was at 83,203, down 248 points or 0.30 per cent. The Nifty50 stood at 25,662, falling 64 points or 0.25 per cent.

Losses were led by IT and select heavyweights. Among the top laggards were Infosys Ltd (down 3 per cent), Tech Mahindra Ltd, Tata Consultancy Services Ltd, HCL Technologies Ltd, Adani Ports and Special Economic Zone Ltd, Kwality Walls, Eternal Ltd, Maruti Suzuki India Ltd, Asian Paints Ltd, Trent Ltd, Power Grid Corporation of India Ltd, ICICI Bank Ltd and Kotak Mahindra Bank Ltd.

On the other hand, buying interest was seen in select metal, financial and pharma counters. Gainers included Bharat Electronics Ltd, Tata Steel Ltd, Bajaj Finance Ltd, ITC Ltd, Bajaj Finserv Ltd, State Bank of India, UltraTech Cement Ltd and Sun Pharmaceutical Industries Ltd, rising up to 1.6 per cent.

In the broader market, the Nifty MidCap index and Nifty SmallCap index were largely flat with a negative bias.

Sectorally, the Nifty Metal index gained 0.87 per cent, the Nifty PSU Bank index advanced 1 per cent and the Nifty FMCG index rose 0.28 per cent. However, the Nifty IT index declined sharply by 2.4 per cent, dragging benchmark indices lower.

Pre-Market Update at 7:44 AM: Indian benchmark indices Sensex and Nifty 50 are likely to open on a positive note on Wednesday supported by favourable global cues. Asian markets traded higher and the U.S. market closed marginally in the green overnight led by technology and financial stocks. As of 7:21 AM, GIFT Nifty was trading near the 25,725 level, up 43 points from its previous close.

Foreign Institutional Investors (FIIs) turned net buyers in the previous session, purchasing equities worth Rs 995.21 crore, while Domestic Institutional Investors (DIIs) bought shares worth Rs 187.04 crore. The shift in FII positioning is a key positive trigger after two sessions of selling, although FIIs remain net sellers of about Rs 1,350.48 crore in February so far. Technology stocks may remain in focus as the IT index gained over 1 per cent in the last session, indicating investors are gradually absorbing concerns around AI-led disruption.

Among stock-specific developments, Infosys unveiled its AI-first value framework under Infosys Topaz targeting a USD 300–400 billion AI opportunity by 2030. Dabur India appointed Herjit S Bhalla as CEO – India Business while Mohit Malhotra was redesignated as Global CEO. Bharat Heavy Electricals received a Rs 1,200–1,500 crore Letter of Award from Steel Authority of India for a captive power plant. Dilip Buildcon emerged L-1 bidder for a Rs 702 crore Narmada flood protection project in Gujarat. Engineers India will hold a board meeting on February 26 to consider a second interim dividend, while Bosch appointed Tillmann Olsen as CFO effective June 1, 2026. Other stocks in focus include Coal India, ONGC, and Hindalco.

On Tuesday, markets extended gains for a second consecutive session. The Sensex rose 173.81 points (0.21 per cent) to close at 83,450.96, while the Nifty 50 gained 42.65 points (0.17 per cent) to settle at 25,725.40.

U.S. equities closed marginally higher. The Dow Jones Industrial Average rose 32.26 points (0.07 per cent) to 49,533.19, the S&P 500 gained 7.05 points (0.10 per cent) to 6,843.22 and the Nasdaq Composite added 31.71 points (0.14 per cent) to 22,578.38. 

Talks between Iran and the United States over their nuclear dispute produced “guiding principles”, according to Foreign Minister Abbas Araqchi, though a final agreement remains distant. Meanwhile, Japan reported exports rising 16.8 per cent year-on-year in January while imports fell 2.5 per cent, resulting in a trade deficit of 1.15 trillion yen (USD 7.51 billion), smaller than projections.

In commodities, gold hovered near USD 4,870 per ounce amid a stronger dollar. Silver slipped 0.5 per cent below USD 73.5 per ounce as expectations around the U.S. Federal Reserve weighed on prices. WTI crude traded at USD 62.28 per barrel, down 0.08 per cent, as progress in Iran-U.S. talks reduced concerns of supply disruption.

For today, Sammaan Capital and SAIL will remain on the F&O ban list.

Disclaimer: The article is for informational purposes only and not investment advice.