Stock Market Today Live: Nifty, Sensex Swing To Gains; IT Stocks Tank For Third Day

The Nifty and Sensex are sailing on choppy waters this morning, swinging between gains and losses. An hour into trade, the Nifty 50 has moved 0.3% on both sides of the line.

ICICI Bank, L&T and BEL have added the most points to the Nifty, while Infosys and Bharti Airtel have dropped.  

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HCLTech has joined other Indian IT players to announce tie-up with top chipmaker Nvidia.

The company unveiled VisionX 2.0, an upgraded version of its multi-modal AI edge platform, with Nvidia. This platform delivers real-time intelligence, enhanced safety and operational efficiency at scale for mission critical industrial environments.

It harnesses the NVIDIA physical AI computing stack, including NVIDIA Blueprint for video search and summarization (VSS), NVIDIA DeepStream, NVIDIA Cosmos Reason VLM and NVIDIA TAO for post-training vision models for unparalleled peęormance.

The rupee opened about 26 paise lower on Friday, reflecting a combination of global dollar strength and cautious risk sentiment.

Harshal Dasani, business head at INVAsset PMS, attributed the decline to firm US bond yields and renewed demand for the dollar in offshore markets that put early pressure on emerging market currencies, including the rupee.

"Additionally, mild uptick in crude prices and intermittent foreign fund outflows added to the weakness at the open. While the Reserve Bank of India is expected to closely monitor volatility and smooth excessive moves, near-term currency direction will largely depend on global dollar momentum and cross-border flows rather than domestic fundamentals alone," he said.

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The yield of the benchmark 10-year government bond rose 2 basis points to 6.70%.

The rupee opened 26 paise weaker at 90.94 against the greenback. The dollar index is up 0.2%. The INR is the worst performing currency in Asia today.

• HSBC will release preliminary February surveys for manufacturing and services PMI at 10:30 pm.
• Government to release eight core industries output data for January at 5 pm.
• RBI to release foreign exchange reserve data at 5 pm.

Jefferies Greed and Fear Index 

• Indian IT service companies will play a role in migrating corporates to this new approach.
• There may be a future for the Indian IT services sector which has been perceived as being a big loser from AI.
• India’s client AI adoption is increasing, with 90% of Infosys's top 200 large clients currently using its AI services. 
• Key Stocks in Asia ex-Japan long-only equity portfolio: Eternal (Zomato), SBI Life Insurance, Lodha Developers, HDFC Bank, PB Fintech, GMR Airports, JSW Energy.

• Strong demand expected after a weak 2025. 
• Early signs, like heatwaves in Mumbai, support this optimism.
• Channel inventory is expected to stabilize in Q4CY25.
• Voltas, LG, and Blue Star are the preferred brands for most consumers.
• Price hikes are "inevitable" due to rising commodity costs and new energy ratings.
• Blue Star plans a 10–15% hike, while LG and Voltas anticipate 8–10% increases.

• Initiate 'Buy' with a target price of Rs 146
• Torchbearer for ESG-led growth in cement.
• Stands out as a rare combination of superior execution, cost leadership, and disciplined growth.
• Capacity pipeline, structurally advantaged operating model, and synergies still only partially unlocked.
• Positioned to scale into India's top 5 cement players by FY30.
• Benefits from being part of the broader JSW Group.
• Well-placed to tap group synergies.

The dollar index, which tracks the greenback against a basket of major currencies, rose toward 98 on Friday and was poised for a roughly 1% gain on the week, supported by robust US economic data and hawkish signals from the Federal Reserve. 

• Zydus Lifesciences: The company launched India’s first Aflibercept biosimilar for ophthalmic care to target AMD, DME, diabetic retinopathy market. It has expanded domestic biologics portfolio strength. The USFDA completed an inspection of the company's Ahmedabad unit with "nil" observations.
• IFGL Refractories: The company started plastic refractories manufacturing at Vizag. The capex for expansion at Rsc2.1 crore. The current installed capacity at 10,000 MTPA.
• RailTel Corporation: The company secured a Rs 36 crore railway signalling project.
• Texmaco Rail & Engineering: The company executed a JV shareholders' pact with RVNL to build a rolling stock powerhouse and expand its rail EPC footprint. The JV to pursue export opportunities in Asia, Africa, West Asia.
• Pace Digitek: The company bags an order worth Rs 89 crore from RailTel Corp for the supply of an IP-based video surveillance system.

ABB India Q4 Results (Consolidated, YoY)

• Revenue: Up 5.7% at Rs 3,557.01 crore versus Rs 3,364.93 crore.
• Ebitda: Down 16.89% at Rs 546.25 crore versus Rs 657.34 crore.
• Ebitda margin: Down 417 bps at 15.35% versus 19.53%.
• Net profit: Down 18.19% at Rs 432.27 crore versus Rs 528.41 crore.

CIE Automotive Q3 (Consolidated, YoY)

• Revenue: Up 13.41% at Rs 2,392.998 crore versus Rs 2,109.951 crore.
• Ebitda: Up 11.79% at Rs 334.57 crore versus Rs 299.26 crore.
• Ebitda margin: Down 20 bps at 13.98% versus 14.18%.
• Net profit: Up 10.44% at Rs 204.305 crore versus Rs 184.982 crore.

The comeback in US equities from last week's artificial intelligence jitters petered out on Thursday as tensions with Iran put traders on edge. The S&P 500 index declined 0.3%, while the technology-heavy Nasdaq 100 Index slid 0.4% and Dow Jones Industrial Average dropped 0.5%.

Eight of the 11 S&P sectors finished in negative territory, with financials, consumer discretionary, and technology shares leading the losses.

Asian equities fell as escalating tensions in Iran weighed on sentiment. Benchmarks in Japan and Australia declined while Korean stocks held up. Markets reopened in Hong Kong after the Lunar New Year holidays, while those for mainland China remained shut.

• Nikkei down 1.3%
• Topic down 1.4%
• S&P/ ASX 200 down 0.1%
• Kospi up 1.5%
• Hang Seng down 1.2%

The GIFT Nifty, a futures contract based on the benchmark Nifty 50, is trading 0.15% higher at above 25,400 points. 

The Nifty and Sensex indices snapped a three-day gaining streak to log their worst single day since Feb. 1 in the previous session. The Nifty 50 ended 400 points or 1.5% lower at 25,454 and the Sensex dropped over 1,200 points or 1.5% to 82,498. Mid and small cap gauges sunk too.

All 16 sectoral gauges compiled by the NSE traded lower, led by the NSE Nifty Realty Index's 2.5% fall. Media, auto, FMCG, defence closed over 2% lower. The market breadth was firmly tilted in favour of sellers. Nearly 2,900 stocks declined and about 1,200 shares advanced on BSE.