Domestic equity indices remained under pressure and were trading lower with cut of over 0.60 percent in late morning deals as market participants indulged in reducing their positions. Hectic selling in Interglobe Aviation, Bharti Airtel, Ultratech Cement, Maruti Suzuki and Hindustan Unilever companies’ stocks dragged both the Sensex and Nifty below their psychological 81,800 and 25,350 levels respectively. Traders remained on sidelines ahead of India’s GDP growth rate data, which will due later in the day. Traders ignored private report that country's Gross Domestic Product (GDP) growth for the third quarter of the current financial year (Q3 FY26) is likely to remain elevated at 8.3 per cent despite an adverse base effect.

On the global front, Asian markets were trading mixed following mostly negative cues from US markets overnight. Back home, on the BSE sectoral front, traders were seen piling up positions only in IT and Oil & Gas, while selling was witnessed in Realty, Telecom, FMCG, Auto and Basic Materials. 

The BSE Sensex is currently trading at 81718.64, down by 529.97 points or 0.64% after trading in a range of 81673.38 and 82246.17. There were 7 stocks advancing against 23 stocks declining on the index.

The only gaining sectoral indices on the BSE were IT up by 0.86% and Oil & Gas up by 0.38%, while Realty down by 1.45%, Telecom down by 1.39%, FMCG down by 1.31%, Auto down by 1.13% and Basic Materials down by 1.06% were the top losing indices on BSE.

The top gainers on the Sensex were HCL Technologies up by 1.93%, Eternal up by 1.58%, Infosys up by 1.42%, Trent up by 0.63% and Tech Mahindra up by 0.59%. On the flip side, Interglobe Aviation down by 2.50%, Bharti Airtel down by 2.08%, Ultratech Cement down by 1.79%, Maruti Suzuki down by 1.70% and Hindustan Unilever down by 1.59% were the top losers.

Meanwhile, days after the US Supreme Court struck down President Donald Trump’s reciprocal tariff, Commerce and Industry Minister Piyush Goyal held a meeting with US Secretary of Commerce Howard Lutnick and US Ambassador to India Sergio Gor and discussed ways to expand trade and economic partnership between the two countries. The meeting assumes significance as India and the US are in the process of finalising the legal text for the first phase of a proposed bilateral trade agreement.  

In a major setback to US President Donald Trump's pivotal economic agenda in his second term, the US Supreme Court ruled that the tariffs imposed by Trump on nations around the world were illegal and that the president had exceeded his authority when he imposed the sweeping levies by using the International Emergency Economic Powers Act (IEEPA) of 1977. Following the order, the US imposed 10 per cent tariffs on all countries for 150 days effective from February 24, 2026. Trump has announced to increase it to 15 per cent, but there is no official order on that yet.

The Indian and US teams were scheduled to meet this week in Washington to finalise the legal text for the pact, however, the meeting was postponed following the US Supreme Court order striking down President Donald Trump's sweeping tariffs. In August 2025, the US had imposed a 25 per cent reciprocal tariff on India. It later imposed another additional 25 per cent duty citing India's purchase of Russian crude oil, taking the total tariffs on India to 50 per cent. India and the US, earlier this month, agreed on a framework to finalise an interim trade deal, under which US will cut tariffs on Indian goods to 18 per cent from 50 per cent imposed earlier. To sign and implement the first phase of the bilateral trade agreement, the framework has to be converted into a legal document.

The CNX Nifty is currently trading at 25319.25, down by 177.30 points or 0.70% after trading in a range of 25292.40 and 25476.40. There were 11 stocks advancing against 39 stocks declining on the index.

The top gainers on Nifty were HCL Technologies up by 1.89%, Eternal up by 1.78%, Infosys up by 1.40%, Trent up by 0.62% and Tech Mahindra up by 0.62%. On the flip side, Interglobe Aviation down by 2.53%, Nestle down by 2.28%, Dr. Reddy's Lab down by 2.21%, Bharti Airtel down by 2.19% and Grasim Industries down by 2.13% were the top losers. 

On the global front, Asian markets were trading mixed; Nikkei 225 surged 170.27 points or 0.29% to 58,753.39, Shanghai Composite strengthened 13.87 points or 0.33% to 4,160.50 and Straits Times rose 15.21 points or 0.31% to 4,979.59. However, Jakarta Composite plunged 25.93 points or 0.32% to 8,209.33, KOSPI dropped 14.19 points or 0.22% to 6,293.08 and Hang Seng declined 384.7 points or 1.46% to 26,381.02.