Updated 27 February 2026 at 11:26 IST
Nifty Slips Toward 25,300 as Banking and IT Lead Broad-Based Market Sell-off
Indian equity benchmarks, the Sensex and Nifty 50, faced significant selling pressure in Friday's morning session, declining over 0.60% each. The downturn was led by heavyweights in the Banking, IT, and Auto sectors, with Tata Motors and L&T among the top laggards. While broad market indices like Midcap and Smallcap followed the benchmarks lower, defensive sectors like FMCG and Pharma provided a minor cushion.
- Republic Business
- 2 min read
Indian equity benchmarks extended losses through early trade, with the BSE Sensex falling 520 points, or 0.63%, to 81,728 at 10:50 am, while the NSE Nifty 50 slipped 155 points, or 0.61%, to trade near 25,340.
The broader market mirrored the weakness. The Nifty Midcap 100 index declined 0.93% to 58,540, while the Nifty Smallcap 100 fell 0.82% to 19,015, indicating selling pressure beyond frontline stocks. Market breadth remained negative, with nearly 1,731 stocks declining on the BSE versus around 1,282 advances.
Banks, IT, and Autos Among Major Losers
Financials led the decline. HDFC Bank dropped 0.99% to ₹898.60
ICICI Bank slipped 0.82% to ₹1,404.90
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Axis Bank fell 0.60% to ₹1,094
State Bank of India (SBI) declined 0.63% to ₹1,209.50
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In the IT pack:
Infosys was down 0.45% at ₹1,305.60
TCS fell 0.51% to ₹2,652.70
Wipro slipped 0.67% to ₹512
HCLTech lost 1.50% to ₹1,394.10
Auto stocks also traded in the red:
Maruti Suzuki fell 1.55% to ₹12,480
Tata Motors declined 2.18% to ₹962
Mahindra & Mahindra dropped 1.06% to ₹3,448
Among heavyweights, Reliance Industries slipped 0.92% to ₹1,406.80, while Larsen & Toubro declined 1.76% to ₹3,824.
On the other hand, defensives offered limited support.
Hindustan Unilever rose 1.68% to ₹2,604
ITC gained 0.94% to ₹462
Sun Pharma advanced 1.32% to ₹1,794.70
What’s Weighing on Markets?
The sell-off comes amid weak global cues, cautious investor positioning ahead of key US macro data, and persistent foreign institutional investor (FII) outflows.
On Thursday, FIIs were net sellers to the tune of ₹3,465.99 crore in the cash segment, while domestic institutional investors (DIIs) bought shares worth ₹5,031.57 crore, offering partial support.
Rising US bond yields and a firm dollar index have also dampened risk appetite in emerging markets, leading to profit-booking at higher levels after Nifty’s recent rally toward 25,500.
Volatility ticked up, with the India VIX rising 3.42% to 13.51, reflecting nervousness among traders.
Technically, Nifty faces immediate and crucial support in the 25,300–25,350 zone, which aligns with its 200-day moving average. On the upside, 25,500 remains the immediate psychological hurdle, while a stronger resistance band is seen at 25,600–25,650. A decisive break below the 25,300 mark could trigger further unwinding toward 25,150, while a move above 25,650 is required to revive bullish momentum.
Published By : Shourya Jha
Published On: 27 February 2026 at 11:26 IST