Markets Daily India

Software Rout Ripples Through India’s Consumer Tech, Real Estate

The Nifty Realty Index is the worst performer so far this year after IT.

Signage for Zomato on a cooler bag at the back of a motorcycle in Bengaluru.Photographer: Samyukta Lakshmi/Bloomberg

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By Ashutosh Joshi and Pratigya Vajpayee

February 25, 2026 at 2:46 AM UTC

This article is for subscribers only.

Good morning...

I’m Ashutosh Joshi, an equities reporter in Mumbai, with the latest on Indian markets.

Asian stocks are trading higher early on Wednesday, after an AI-driven selloff in US shares abated overnight. Let’s see if that can help India’s markets today, because the AI pain trade has recently started to look like it could spill over into the broader economy. Fidelity International is warning that the slide in Indian stocks has further to run, while RBC BlueBay Asset Management is betting on a fall in the rupee versus the South Korean won. As tech shares led a decline in India’s market on Tuesday, the benchmark Nifty index came close to breaching the 200-day moving average — a crucial long term support level — before finishing above it.

AI remains a global focus for investors today, with Nvidia set to report earnings later. Investors are also keenly watching US President Donald Trump’s State of the Union address.

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