Asian markets traded mixed in early deals as fading enthusiasm around AI and technology stocks slowed Wall Street’s record-setting momentum.
The Nifty IT is down over 25% so far in 2026. On Tuesday, big names like TCS, Wipro, and Infosys lost 3-4%, dragging down BSE’s Sensex by 1.9% to 74,559.24, while the Nifty 50 ended 1.8% lower at 23,379.55.
Rupee Record Low Against Dollar: Banking stocks stayed under watch, with analysts flagging continued weakness in momentum indicators and key support levels for Bank Nifty around 54,000.
Sensex, Nifty Fall Today: Oil prices spiked about 4.33% to about $105.6 per barrel, as of 9:36 am (IST) today, triggered by US President Donald Trump's rejection of Iran's reponse to the proposal for peace talks as "unacceptable."
A series of central bank measures aimed at supporting the rupee has had only a limited impact.
Domestic stock markets also behaved similarly, with Nifty and Sensex falling as much as 1.6% during the day before closing 0.75% lower.
Brent crude, the global oil benchmark, was trading higher by 3.16 per cent at USD 121.76 per barrel in futures trade.
New data shows import amount settled by Indian traders in rupees in Feb is Rs 3,000 cr more than in Jan
Foreign Institutional Investors (FIIs) were net sellers, offloading equities worth ₹2,103.74 crore on Tuesday, according to exchange data.
Both the Nifty and Sensex snapped a three-session losing run on Monday, led by a rebound in information technology stocks following last week's sharp selloff.
The positive momentum came after reports that the US and Iran could resume peace talks later this week in Pakistan, following the stalemate during the first round.
The BSE’s Sensex index ended 1.2%, or 919 points, higher at 77,550.25 points on Friday, led by gains in the banking and financial services sector. The Nifty 50 also closed 1.2%, or 276 points, higher at 24,050.60. Except for IT, all other sectors saw robust gains during the session.
Flows into gold & silver ETFs remained lukewarm after record highs in January
The domestic stock market is expected to remain volatile this week as investors track the RBI's monetary policy decision, key global macroeconomic data and the impact of the West Asia conflict.
With investors more risk-averse toward emerging markets like India, the large-scale outflow increased stock market volatility, weakened investor sentiment and put pressure on the rupee, which depreciated sharply, breaching the 95 mark intra day and finally closing at 94.83 against the US dollar on Monday.
With Friday’s rise, bond yield has risen by 26 basis points in the last one month. Bond prices and yields move in opposite directions — when prices rise, yields fall and vice-versa. On the other hand, benchmark bond yield in the US has risen by 48 basis points to 4.42% in the last one month.
Investors remain cautious after the Wall Street Journal reported on Monday that American allies in the Persian Gulf are “inching toward joining the fight against Iran”
Indian market indices which plunged 11.6% since the war began on February 28 are expected to rally on the back of Trump’s announcement.
This was the steepest single-day fall for the market since June 4, 2024 when voting trends during the Lok Sabha elections had shown an unexpectedly narrow win for the BJP.
Unabated foreign fund outflows also dented market sentiments, analysts said.
Both the indices are currently trading around their lowest levels in around a year. Despite reaching record highs on a couple of occasions, both have been in a consolidation phase over the past 18-24 months. They are now near February 2024 levels.
The NSE’s Nifty 50 index is down 686.85 points or 2.8% at 23,663.60 points at around 10:30 AM, the lowest level since April 2025 when US President Donald Trump had first announced reciprocal tariffs.
Worried foreign investors have taken out over $2.12 billion (Rs 19,500 crore) from the stock market in the last three sessions, exchange data shows.
The sell-off persisted through the month as further updates from Anthropic, coupled with a note from US-based research firm Citrini Research, painted a stark picture for the sector.
The fresh sell-off came after US-based Antrophic, which had first triggered fear across the sector, announced that its Claude Code AI tool can sharply reduce the cost and complexity of modernising legacy software systems, an area which is a major revenue generator for Indian IT firms.





