Market Commentary Mid Session News Details

Barometers opens lower in early trade; breadth negative

(27-Feb-26   09:36)

The domestic equity benchmarks traded with modest losses in the early trade. The Nifty traded below the 25,400 level. Chemical, FMCG and auto shares declined, while IT and consumer durabes stocks advanced.

At 09:30 IST, the barometer index, the S&P BSE Sensex, dropped 351.42 points or 0.43% to 81,897.19. The Nifty 50 index slumped 126.90 points or 0.49% to 25,368.90

In the broader market, the BSE 150 MidCap Index shed 0.24% and the BSE 250 SmallCap Index fell 0.46%.

The market breadth was negative. On the BSE, 1,288 shares rose and 1,610 shares fell. A total of 186 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 3,465.99 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 5,031.57 crore in the Indian equity market on 26 February 2026, provisional data showed.

Stocks in Spotlight:

NBCC (India) added 0.48%. The company said that it has secured a Rs 775 crore order from the Delhi Development Authority (DDA) for the redevelopment of staff quarters.

Brigade Enterprises shed 0.38%. The company announced that the Brigade Group has partnered with Primus Senior Living to launch three senior living communities across Bengaluru and other geographies in South India. The upcoming projects will have an expected gross development value (GDV) of approximately Rs 750 crore.

Gujarat Mineral Development Corporation (GMDC) rose 0.69%. The company has entered into a Memorandum of Understanding (MoU) with NTPC to jointly explore opportunities in coal and lignite gasification and downstream utilization.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.13% to 6.699 compared with previous session close of 6.690.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 90.9500 compared with its close of 90.9150 during the previous trading session.

MCX Gold futures for 2 April 2026 settlement added 0.26% to Rs 160,001.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.08% to 97.66.

The United States 10-year bond yield declined 0.37% to 4.002.

In the commodities market, Brent crude for April 2026 settlement lost 8 cents or 0.11% to $70.76 a barrel.

Global Markets:

Asia market traded mixed on Friday, after U.S. stocks declined overnight as Nvidia shares tumbled despite a quarterly earnings beat.

In Asian tech stocks, SK Hynix, which is a key supplier of high-bandwidth memory to Nvidia, dipped over 2%. Samsung Electronics, which has been a decades-old partner of Nvidia, was down 0.69%.

Gold prices held broadly steady on Friday, with investors digesting the previous day's U.S.-Iran nuclear talks, while the dollar, hovering near three-week highs, pressured the yellow metal.

An Omani mediator of U.S. and Iran nuclear talks has reportedly given an optimistic readout over the latest round of negotiations, but uncertainty still hung over energy markets with no sign of a breakthrough that would avert potential U.S. strikes.

Following these developments, Brent crude futures settled down 10 cents, or 0.14%, to $70.75 a barrel.

Overnight on Wall Street, the S&P 500 pulled back after the latest results from tech titan Nvidia and software giant Salesforce failed to boost the broader market.

The broad market index fell 0.54% to end at 6,908.86, while the Nasdaq Composite declined 1.18% and closed at 22,878.38. The Dow Jones Industrial Average added 17.05 points, or 0.03%, to settle at 49,499.20.

Nvidia shares fell more than 5%, even after the chip giant posted fourth-quarter earnings and revenue that were higher than widely reported forescasts.

On the other end, Salesforce, which has been one of the biggest victims of recent artificial intelligence disruption fears, rose 4% after the software company's latest quarterly results were higher than widely reported forecasts on the top and bottom lines. However, the company issued a disappointing fiscal 2027 revenue forecast.

Sentiment has been fragile in software and cybersecurity stocks this year as worries remain about the rapidly developing capabilities of AI products that could interfere with incumbent software vendors' businesses.

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