Last Updated on February 24, 2026 10:11 pm by INDIAN AWAAZ
By Our Biz Correspondent
The Indian equity markets underwent a grueling session on Tuesday as a “perfect storm” of technological disruption fears and geopolitical trade anxieties incinerated over ₹4 lakh crore in investor wealth. Benchmark domestic equity indices, the Sensex and the Nifty, plunged around 1.2 per cent today as IT stocks extended their rout amid persistent concerns over artificial intelligence-led disruptions. The Sensex tanked 1069 points to close at 82226, while the Nifty slipped 288 points to settle at 25 thousand 425. Earlier, the markets opened under selling pressure, tracking sharp declines in the US markets. The sell-off intensified in the afternoon trade, led by a fall in technology shares and volatility amid the monthly expiry of Futures and Options contracts of Nifty.
In the Sensex pack, 22 out of 30 companies registered a downward move. Among the top laggards, Tech Mahindra sank 6.6 per cent, HCL Tech slipped 6.1 per cent, and Eternal dropped nearly 5.3 per cent. Among the top performers, NTPC surged over 1.9 per cent, HUL gained 0.9 per cent, and Tata Steel rose over half a per cent.
The ‘Claude’ Catalyst: IT Under Siege
The primary detonator for the day’s volatility was a massive rout in IT heavyweights. Sentiment soured following the launch of Anthropic’s “Claude Code” tool, which has sent shockwaves through the global software services industry. Investors fear that AI-driven automation is poised to dismantle the traditional labor-arbitrage model that has been the bedrock of Indian IT for decades. The carnage mirrored a 13% overnight crash in IBM shares, signaling a fundamental shift in how markets value software human capital.
The Trump Factor & Global Headwinds
Adding to the domestic woes were renewed global trade anxieties. U.S. President Donald Trump’s recent threats to impose a 15% universal tariff under Section 122 of the 1974 Trade Act have left emerging markets on edge. This “protectionist pivot,” coupled with escalating geopolitical tensions pushing Brent crude toward the $72-per-barrel mark, kept risk appetite suppressed.
Sectoral Snapshot: Winners and Losers
| Sector | Status | Key Highlights |
| IT & Software | 🔴 Crashing | Massive sell-off led by AI-disruption fears; IBM’s 13% dip spooked local players. |
| Telecom | 🔴 Under Pressure | Bharti Airtel slipped 2.91% after announcing a ₹20,000 crore capital infusion for its NBFC arm. |
| Infrastructure | 🟢 Resilient | L&T secured a “significant” LIGO-India order; KEC International bagged orders worth ₹1,002 Cr. |
| Renewables | 🟢 Outperforming | Waaree Energies surged 3.68% following a massive 500 MW solar module contract. |
| Banking | 🟡 Volatile | IDFC First Bank added 1.31% despite clarifying a ₹590-crore fraud at its Chandigarh branch. |
The Numbers to Watch
- Volatility Index: The India VIX eased slightly by 1.35% to 14.17, though intraday swings remained violent.
- Currency: The Rupee remained fragile, hovering at 90.94 against the US Dollar.
- Commodities: Gold futures for April 2026 settlement stood at ₹160,810, down 0.48%.