Stock Market Today LIVE: Indian stock markets benchmarks Nifty 50 and Sensex declined around a percent on Friday, February 27, 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.
Investors got poorer by more than ₹3 lakh crore as the overall market capitalisation of BSE-listed firms dropped to below ₹465 lakh crore from ₹468.5 lakh crore in the previous session.
Moreover, a fall in banking and financial services stocks also added to the decline. Nifty Bank and Nifty Fin Services indices were down nearly a percent each. Moreover, Auto and FMCG sectors also declined, contibuting to the downtrend.
However, 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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