Indian Markets Decline as Sensex and Nifty Experience Broad-Based Selling

Key Takeaways

Sensex fell by 346 points, while Nifty dropped 113 points.

Major losses were seen across most sectoral indices.

Indian IT stocks showed resilience amid global market trends.

Fluctuating oil prices are influencing investor sentiment.

Support and resistance levels for Nifty and Bank Nifty are key indicators to watch.

Mumbai, February 27 (NationPress) – The Indian stock markets commenced the final trading session of the week with a downward trend on Friday, even as domestic IT stocks showed considerable strength.

Despite a global tech selloff triggered by disappointing earnings from Nvidia, Indian IT stocks held their ground.

At 9:20 AM, the Sensex had dropped by 346 points, or 0.42%, settling at 81,903, while the Nifty experienced a decline of 113 points, or 0.44%, to reach 25,383 during the morning trade.

The major broad-cap indices mirrored the benchmark indices, with the Nifty Midcap 100 falling by 0.30% and the Nifty Smallcap 100 decreasing by 0.37%.

All sectoral indices were in the negative zone, with the exception of Nifty IT, which rose by 1.56%, and consumer durables, which gained 0.34%. The Nifty FMCG and auto sectors were notably affected, declining by 0.59% and 0.54%, respectively.

Analysts indicated that fluctuating oil prices due to the ongoing Middle East crisis are likely to keep investor sentiment on edge. The persistent global tech weakness may continue to impact Indian IT stocks, which have already seen a correction of over 20% in February due to rising apprehensions about AI-induced disruptions.

The immediate resistance level for Nifty is identified within the 25,600 to 25,650 range, while support is noted between 25,300 and 25,350.

For Bank Nifty, resistance is observed in the 61,400 to 61,500 zone, whereas the 60,800 to 60,900 range remains crucial for support, according to market participants.

In the Asian markets, the Shanghai index in China saw a decline of 0.17%, while Shenzhen fell by 0.68%. Japan's Nikkei dropped by 0.24%, and Hong Kong's Hang Seng Index increased by 0.67%. Meanwhile, South Korea's Kospi decreased by 0.77%.

On the previous day, the US markets finished primarily in the red, with the Nasdaq falling by 1.18%. The S&P 500 lost 0.54%, while the Dow Jones managed a slight increase of 0.03%.

On February 26, foreign institutional investors (FIIs) sold equities worth Rs 3,466 crore net, while domestic institutional investors (DIIs) were net buyers, purchasing equities worth Rs 5,032 crore.

Point of View

It is crucial to highlight the impact of global market sentiments on local indices. The decline in the Sensex and Nifty, despite gains in IT stocks, reflects the cautious approach investors are adopting in the face of external economic pressures. The volatility in oil prices and tech sector weaknesses are likely to influence market behavior in the coming days.

NationPress

9 May 2026

Frequently Asked Questions

What caused the decline in the Indian stock markets?

The decline was primarily driven by a global tech selloff, particularly following disappointing earnings from Nvidia, alongside fluctuating oil prices due to the Middle East crisis.

How did the major indices perform?

As of the morning session, the Sensex dropped by 346 points to 81,903, while the Nifty fell by 113 points to 25,383.

Which sectors were most affected?

All sectoral indices were in the red except for Nifty IT and consumer durables, which showed modest gains.

What is the outlook for Indian IT stocks?

Analysts suggest that Indian IT stocks may continue to be pressured by global tech weaknesses, especially given their significant corrections this month.

What should investors monitor moving forward?

Investors should keep an eye on resistance and support levels for Nifty and Bank Nifty, as well as fluctuations in oil prices and global market trends.