Bear Grip on Markets: Sensex Drops 800 Points, Nifty Slides Amid IT Sell-Off
Indian stock markets fell sharply as IT stocks declined, with Sensex dropping around 800 points and Nifty slipping amid continued selling pressure and tech sector concerns.
Prasanth Subramani
Indian equity markets traded sharply lower on Friday morning, with heavy selling in IT stocks dragging benchmark indices down. The Sensex fell around 800 points, while the Nifty also slipped significantly amid continued bearish sentiment.
Market analysts attributed the decline to strong selling pressure in IT shares, triggered by concerns over the impact of advanced artificial intelligence technologies on outsourcing and technology services. The introduction of new AI technology by US-based firm Anthropic has reportedly created uncertainty in the IT sector, raising fears about reduced demand for traditional outsourcing roles.
Reflecting this trend, the BSE Sensex dropped to around 82,190 points, while the NSE Nifty traded near 25,553 points, both registering losses of over one percent in early trade.
Leading IT stocks in the Nifty50, including TCS, HCLTech, Infosys, Tech Mahindra, and Wipro, fell by up to 6 percent, contributing significantly to the market decline.
Apart from a few stocks such as Apollo, HDFC Bank, Bharti Airtel, State Bank of India, and Bajaj Finance, most other shares were trading in the red, indicating broad-based weakness across the market.
