Benchmarks continued their weak trade in late afternoon session as losses in IT stocks weighed on market sentiments. The IT stocks came under serious selling pressure as concern over AI-led disruption resurfaced after the Anthropic introduced a new AI capability tied to COBOL systems, a computer programming language designed for business use. Investors wary that this new tool can pose a threat to existing business models of IT companies. Besides, traders opted to took cautious approach amid fresh threats by US President Donal Trump to countries which are backing away from the deals after US Supreme Court verdict. He has reportedly threatened to hit them with much higher duties under different trade laws.

On the global front, Asian equity markets were trading mixed, while European equity markets were trading lower amid uncertain trade tariff environment.

The BSE Sensex is currently trading at 82176.61, down by 1118.05 points or 1.34% after trading in a range of 81934.73 and 83079.51. There were 6 stocks advancing against 24 stocks declining on the index.

The few gaining sectoral indices on the BSE were Metal up by 0.52%, Oil & Gas up by 0.16%, Energy up by 0.12% and Power up by 0.05% while, IT down by 4.72%, TECK down by 3.93%, Realty down by 3.36%, Telecom down by 2.21% and Consumer Discretionary down by 1.46% were the top losing indices on BSE.

The top gainers on the Sensex were Hindustan Unilever up by 0.64%, NTPC up by 0.51%, Tata Steel up by 0.38%, Axis Bank up by 0.26% and Titan Company up by 0.20%. On the flip side, Tech Mahindra down by 7.10%, HCL Technologies down by 6.68%, Eternal down by 5.22%, Infosys down by 4.08% and Larsen & Toubro down by 3.79% were the top losers.

Meanwhile, Apparel Export Promotion Council (AEPC) Chairman A Sakthivel has said that India's apparel exports have shown modest growth of 1.6 per cent to reach $13,129.1 million during April-January 2025-26 as compared to the corresponding period of the previous financial year. He said this modest growth occurred despite geopolitical uncertainties and supply chain challenges. He noted that exports to several key markets also showed impressive performances, including Italy (16 per cent), the UK (4.8 per cent), UAE (10.6 per cent), Saudi Arabia (18.5 per cent), Germany (8.7 per cent), and Spain (7.1 per cent). Strong performance has also been recorded in Japan, Iceland, and Australia. 

AEPC Chairman said over the years, the council has consistently taken up industry concerns with the government and relevant stakeholders to promote, protect, and safeguard the interests of the ready-made garment (RMG) sector. He added that the government's key initiatives such as PM MITRA Parks, Production Linked Incentive (PLI) Scheme, Mega Textile Parks, the Export Promotion Mission, and the SAMARTH skilling programme, will surely accelerate growth of the sector.

He further said additional support measures such as promoting extra-long staple cotton cultivation, enhancing ease of doing business, improving credit access for MSMEs through expanded credit guarantee coverage, and establishing national centres of excellence for skilling also expected to provide significant momentum to the industry. Looking ahead, he said the council has planned to promote the global reach of Indian apparel exports by diversification of markets to newer and non-traditional markets through its export promotion activities in 2026-27.

The CNX Nifty is currently trading at 25397.30, down by 315.70 points or 1.23% after trading in a range of 25327.60 and 25641.80. There were 13 stocks advancing against 37 stocks declining on the index.

The top gainers on Nifty were JSW Steel up by 0.85%, NTPC up by 0.83%, Hindustan Unilever up by 0.60%, Hindalco up by 0.43% and Tata Steel up by 0.29%. On the flip side, Tech Mahindra down by 7.21%, HCL Technologies down by 6.78%, Eternal down by 5.28%, Infosys down by 4.05% and Larsen & Toubro down by 3.84% were the top losers.

Asian equity markets were trading mixed; Nikkei 225 surged 547.3 points or 0.95% to 57,373.00, Taiwan Weighted added 927.56 points or 2.67% to 34,700.82, KOSPI increased 123.55 points or 2.07% to 5,969.64 and Shanghai Composite strengthened 35.34 points or 0.86% to 4,117.41, while Hang Seng declined 495.91 points or 1.87% to 26,586.00, Straits Times fell 21.36 points or 0.43% to 5,019.97 and Jakarta Composite plunged 109.97 points or 1.33% to 8,286.11.

European equity markets were trading lower; UK’s FTSE 100 decreased 20.19 points or 0.19% to 10,664.55, France’s CAC fell 9.17 points or 0.11% to 8,488.00 and Germany’s DAX lost 2.37 points or 0.01% to 24,989.60.