Sensex, Nifty open in red; IT index dips 3.58 pc - Mumbai, Feb 12 The Indian equity markets opened lower early on Thursday weighed down by IT stocks. As ... Get Latest News on Technology only on lokmattimes.com

Sensex, Nifty open in red; IT index dips 3.58 pc

Mumbai Equity Markets Open Lower Amid IT Stocks Weighing Down

The Indian equity markets opened lower on Thursday, February 12, driven by losses in IT stocks.

As of 9:25 am, the Sensex lost 397 points, or 0.47 per cent, to reach 83,836, while the Nifty lost 111 points, or 0.43 per cent, to settle at 25,842.

Main Indices Post Stronger Losses

Nifty Midcap 100 declined 0.76 per cent
Nifty Smallcap 100 dipped 0.88 per cent

Main broad-cap indices posted stronger losses than benchmark indices, with all sectoral indices trading in the red except for FMCG, private banks, and oil and gas.

Nifty IT down 3.58 per cent
Realty down 1.11 per cent
Media down 1.04 per cent

The immediate support for Nifty is placed at 25,800-25,850 zone, while resistance is anchored at 26,050-26,100 zone, market watchers said.

US jobs data indicating addition of 1.3 lakh jobs last month and unemployment falling to 4.3 per cent weakened hopes of rate cuts by the Fed in the near-term.
Analysts said that the rate cutting cycle is over since growth is good and inflation is expected to inch back to the RBI's long-term target by the end of FY27.

China's Shanghai index added 0.12 per cent
Shenzhen gained 0.81 per cent
Japan's Nikkei gained 0.1 per cent
Hong Kong's Hang Seng Index eased 0.97 per cent
South Korea's Kospi gained 2.74 per cent

Nasdaq eased 0.16 per cent
The S&P 500 traded flat
The Dow Jones lost 0.13 per cent

On February 11, foreign institutional investors (FIIs) net bought equities worth Rs 944 crore
Domestic institutional investors (DIIs) were net sellers of equities worth Rs 125 crore

Indian equities corrected in January amid global volatility and FII outflows; however, the medium-term outlook remains constructive, according to analysts.

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