Indian stock markets kicked off Friday on a slightly sour note, even as global signals looked upbeat. IT shares took the biggest hit, dragged down by worries about upcoming changes to US H-1B visa rules that could impact hiring for tech talent.
By 9:26 a.m., the Sensex had slipped 189 points, or 0.23%, to stand at 82,772. The Nifty fared a bit better, down 40 points, or 0.16%, at 25,286. Both indices started the day with sharper drops—Sensex off 0.40% and Nifty down 0.33%—but buyers stepped in to trim those early losses.
Major IT players felt the pressure in morning trade. Shares of Tata Consultancy Services (TCS), Infosys, Wipro, HCL Technologies, Tech Mahindra, and Coforge all declined. Other notable losers included Tata Motors, Apollo Hospitals, and Dr. Reddy’s Laboratories.
The US government offered some relief to Indian IT firms with a key clarification: Returning visa holders won’t face the new $100,000 fee. Officials at the White House noted this fee applies only as a one-time charge for fresh H-1B applications starting in the next lottery cycle, from March to April 2026. It won’t touch renewals, easing fears for ongoing operations.
Broader markets showed mild weakness too. The Nifty Midcap 100 index dipped 0.05%, while the Nifty Smallcap 100 fell 0.12%.
Sector-wise, the Nifty IT index led the declines, dropping 2.68%. Nifty Pharma shed 0.45%, and Nifty Healthcare lost 0.33%. Most other sectors edged higher, keeping the overall mood balanced.
The Nifty has stayed strong above 25,300, closing the previous session at 25,327. It continues to hover over its key moving averages—the 20-day, 50-day, and 200-day EMAs—which signals a solid bullish trend in the Indian stock market.
Analysts expect this positive vibe to hold as long as the index stays above those averages. They see immediate resistance at 25,500, with further hurdles at 25,600 and 25,850. Support levels sit at 25,150 and 25,000.
Experts predict a mixed day ahead. The IT sector faces headwinds from the H-1B visa changes, but domestic consumption could get a lift today from lower GST rates taking effect. This should spark more spending and benefit consumer-focused stocks.
On top of that, the current low interest rate environment will fuel this consumption boom and drive up demand for credit. That, in turn, should boost profits for financial companies, adding to the optimism.
Globally, Asia-Pacific markets mostly climbed on Monday, riding Wall Street’s gains from Friday and China’s decision to hold key lending rates steady. In the US, the Nasdaq rose 0.72%, the S&P 500 gained 0.49%, and the Dow added 0.37% in their last session.
Across Asia, green dominated the morning: Japan’s Nikkei jumped 1.45%, South Korea’s Kospi rose 1.06%, China’s Shanghai index edged up 0.07%, and Shenzhen climbed 0.17%. Hong Kong’s Hang Seng bucked the trend, down 0.82%.
Back home, foreign institutional investors (FIIs) bought equities worth Rs 390 crore on Friday, while domestic institutional investors (DIIs) snapped up Rs 2,105 crore worth, showing steady inflows into the Indian stock market.
Stay informed on all the latest news, real-time breaking news updates, and follow all the important headlines in world News on Latest NewsX. Follow us on social media Facebook, Twitter(X), Gettr and subscribe our Youtube Channel.
