Benchmark stock indices were on Tuesday fell over 1% amidst sell-off in technology stocks owing to trade related uncertainties and concerns over artificial intelligence (AI)-led disruptions, analysts said.
The 30-share BSE Sensex fell 1.28% or 1,069 points to 82,226 led by fall in technology stocks. The top Sensex losers included Tech Mahindra down 6.60%, HCL Tech (6.10%), Eternal (5.28%), Infosys (3.91%) and TCS (3.79%). The BSE Tech Index fell 3.82%.
Mirroring the same sentiment the broader 50-stock NSE Nifty-50 index slumped 1.12% or 288 points to 25,425 points. The Nifty IT Index extended its losing streak to a fifth consecutive session, falling nearly 5%.
Shrikant Chouhan, Head Equity Research, Kotak Securities said, “The benchmark indices corrected sharply. Among sectors, the IT index lost the most, shedding over 4.45 percent, whereas despite the weak market sentiment, the Metal index outperformed and rallied over 1 percent.”
“Technically, after a gap-down open, the market has been facing consistent selling pressure at higher levels. A long bearish candle on the daily charts and a lower top formation in intraday charts indicate further weakness from the current levels,” he pointed out.
Bajaj Broking Research in a note said “On February 24, coinciding with the monthly Nifty F&O expiry, Indian benchmark indices snapped their two-session rally and ended sharply lower, with the Nifty slipping below the 25,450 mark amid heavy selling in IT stocks on concerns over AI-driven disruption.”
According to Ponmudi R, CEO, Enrich Money due to a gap-down start investors refrained from building aggressive positions amid mixed global cues.
“Escalating global macro uncertainty—particularly around U.S. trade and tariff developments—along with persistent concerns over AI-led disruption in the global technology space, weighed on overall risk appetite and prompted defensive positioning across most sectors,” he said.
“The IT sector bore the brunt of the selling pressure, with stocks declining sharply in line with weakness in global technology counters. Intensifying concerns that rapid AI advancements could disrupt traditional business models and valuation frameworks further dampened sentiment, triggering broad-based profit booking in technology names” he added.
Published – February 24, 2026 11:37 pm IST
