Stock market live: All sectoral indices trade in red, barring NIFTY IT; Check details

Domestic equity indices traded deeply in red in late morning deals on account of selling by funds and retail investors. Meanwhile, broader indices were also trading deeply in red with the BSE Mid cap index and Small cap index dropping in the range of 3.00-3.60%. Traders were cautious amid ongoing geopolitical tensions between India and Pakistan

On the global front, Asian markets were trading in green following the broadly positive cues from US markets overnight, as traders remained optimistic about a favourable outcome from the ongoing tariff negotiations between the U.S. and several partner countries, particularly China, Japan, South Korea and India.

NIFTY50 and SENSEX opened higher on Friday, but pared the gains to trade in red in opening hours. The losses extended in the mid-market session as reports emerged of increased tensions between India and Pakistan. Soon after, NIFTY50 fell more than 300 points, and SENSEX declined by 1200 points.

At 12:50 pm, NIFTY50 traded at 23,968 levels, down 278 points. Similarly, SENSEX 78,638, down 820 points or 1.03%. Taking cues from the domestic developments, all the sectoral indices also traded in red. NIFTY Media, Financial Services, Healthcare, Realty, Pharma and Metals all traded with losses of over 2%.

NIFTY IT remained the sole outperformer today by gaining 0.6% on Thursday. The gains in IT stocks were largely driven by an overnight rally in the US tech stocks. Positive commentary by the Cleveland Federal Reserve President on cutting rates in the June policy meeting boosted the investor sentiments for the Tech stocks.