Markets slide as IT stocks drag Sensex and Nifty lower
Markets slide as IT stocks drag Sensex and Nifty lower
Markets slipped as IT shares led a broad sell-off, with Sensex down over 1,000 points and Nifty retreating, amid AI disruption fears and softer global cues.
In a choppy trading session, Indian benchmarks slipped more than 1%, with IT stocks leading the retreat. The Sensex plunged 1,068.74 points and the Nifty-50 shed about 288 points in early deals, signaling a risk-off mood among investors.
Tech names were the biggest pull on the indices as concerns over AI-led disruption weighed on margins and client budgets. Traders fretted about how new technologies could reshape demand and competition, triggering a broad sell-off in the IT sector.
Global cues added to the pressure, with crude prices rising on geopolitical tensions and a sluggish global backdrop dampening risk appetite. The day highlighted how external developments can quickly translate into domestic market moves, especially for tech-heavy indices.
Beyond IT, other sectors paused in retreat as markets priced in ongoing uncertainty ahead of earnings and policy cues. The retreat underscored the fragility of the near-term sentiment and the renewed sensitivity to global developments.
Market watchers say the current leg of decline could be followed by choppier action until clearer signals emerge from earnings reports and policy guidance. Investors were urged to exercise caution and focus on fundamentals.
For stock traders in Mumbai, the message is one of caution and discipline as AI fears and geopolitical tensions continue to shape price action.
