Sensex Dives as IT Stocks Lead Broad Market Selloff
Sensex Dives as IT Stocks Lead Broad Market Selloff
Indian benchmarks slid sharply on Friday as technology giants and blue-chips dragged the market, with Sensex and Nifty slipping in early trade.
Indian equity markets opened sharply lower on Friday, with the BSE Sensex tumbling 731.94 points, or 0.87 percent, to 82,942.98 by 9:16 am, while the Nifty 50 slid 225.90 points, or 0.88 percent, to 25,581.30. The early trading session showed a broad-based selloff led by technology and heavyweight blue-chip stocks, signaling cautious sentiment amid global cues.
Technology counters bore the brunt of the losses, with Infosys dropping 7.18 percent to Rs 1,287.55, TCS down 5.41 percent to Rs 2,603, and HCLTech shedding 5.16 percent to Rs 1,400. Tech Mahindra fell 3.03 percent, underscoring continued investor caution toward IT shares.
Other big names also weighed on the index: Hindustan Unilever fell 1.66 percent, Mahindra & Mahindra slipped 1.47 percent, and Tata Steel declined 1.03 percent.
Energy and utilities softened as well, with PowerGrid down 0.39 percent and NTPC off 0.41 percent.
On the exception side, a few counters managed small gains. Eternal rose 0.49 percent to Rs 299.35, Bharti Airtel gained 0.27 percent to Rs 2,020.50, and Axis Bank added 0.22 percent to Rs 1,343.00.
Market observers said the retreat comes in the wake of cautious mood ahead of global cues and lingering concerns around AI-led disruption and near-term rate-cut expectations, weighing on sentiment.
