Stock market today: The domestic benchmark indices began the day on a negative note on Friday, following a drop in Wall Street and Asian markets, with technology shares plummeting by as much as 5%, deepening their losses amid worries about disruption from artificial intelligence within the sector.
The Nifty 50 dropped 1.10% to 25,523. 75, while the Sensex decreased by 1.01% to 82,820.30, as reported at 10:16 IST.
All 16 major sectors opened lower. The IT index fell for the third consecutive session, fueled by growing concerns that AI-driven automation could disrupt the labor-intensive business model of Indian IT. It slid 5.5% on Thursday.
Other Asian markets fell by 0.9%, following a decline in Wall Street stocks the previous night, particularly in the technology sector.
The tech-focused Nasdaq Composite index dropped over 2% on Thursday in anticipation of US inflation figures set to be released on Friday, which may impact future interest rate decisions.
Robust US employment data from January has weakened projections regarding a potential rate cut in the near future.
Share Market Tips and Nifty 50 Outlook by Rajesh Palviya, SVP – Technical and Derivatives Research, Axis Securities
Nifty 50
Since September 2025, the benchmark index has continued to consolidate within 26,300-24,500 levels, indicating a sideways trend. On the upside, any decisive breakout above 26,000 may trigger a fresh buying momentum towards 26300-26,500. The bullish gap formed on 3rd Feb 2026 within 25,563-25,108 levels will remain a strong support zone. The daily strength indicator RSI is in positive territory, which shows rising strength.
Precision Wires India Ltd Cmp: ₹279
With current price action, Precision Wires India share price has decisively surpassed the past three months’ multiple resistance zone of 270-275 levels, along with huge volumes, which signal increased participation. The stock is in a strong uptrend across all time frames, forming a series of higher tops and bottoms. The stock is well placed above its 20, 50,100 and 200-day SMA. These averages are also inching up along with rising prices, which reconfirms a bullish trend. The daily, weekly and monthly strength RSI is in positive territory, which signals rising strength.
Investors should consider buying, holding, and accumulating this stock. Its expected upside is 290 – 320, and its downside support zone is the 270 – 255 levels.
Max Financial Services Ltd Cmp: ₹1,818
Max Financial Services share price registered an all-time high of 1,821 on huge volume, indicating bullish sentiment. It has also decisively surpassed the multiple resistance zones of 1,760 from the past four months on a closing basis. The daily and weekly “band Bollinger” buy signal indicates increased momentum. The stock is well placed above its 20, 50,100 and 200-day SMA. These averages are also inching up along with rising prices, which reconfirms a bullish trend. The daily, weekly and monthly strength RSI is in positive territory, which signals rising strength.
Investors should consider buying, holding, and accumulating this stock. Its expected upside is 1,900 -1,970, and its downside support zone is the 1,760 – 1,730 levels.
Sundaram Finance Ltd Cmp: ₹5,550
On the daily chart, Sundaram Finance share price broke out strongly from a “rounding bottom” formation at 5,400-5,420 levels on a closing basis, indicating positive bias. On the weekly chart, the stock is on the verge of a “triangular” formation breakout, which reconfirms bullish sentiments. The stock is well placed above its 20, 50,100 and 200-day SMA. These averages are also inching up along with rising prices, which reconfirms a bullish trend. The daily, weekly and monthly strength RSI is in positive territory, which signals rising strength.
Investors should consider buying, holding, and accumulating this stock. Its expected upside is 5,656 – 5,750, and its downside support zone is the 5,400 – 5,250 levels.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
