Benchmark equity indices ended lower on Thursday, dragged down by a sharp sell-off in technology stocks amid global uncertainty and concerns around AI-led disruption in IT services. The 30-share BSE Sensex declined 558.72 points, or 0.66 per cent, to settle at 83,674.92. During the session, it tanked 716.97 points, or 0.85 per cent, to hit an intraday low of 83,516.67. The 50-share NSE Nifty fell 146.65 points, or 0.57 per cent, to end at 25,807.20.Technology stocks led the slide, with Tech Mahindra, Infosys and Tata Consultancy Services (TCS) tumbling nearly 6 per cent each to emerge as major laggards on the Sensex. HCL Technologies, Mahindra & Mahindra, Hindustan Unilever, Reliance Industries, Eternal, HDFC Bank, IndiGo, Kotak Mahindra Bank and Adani Ports also ended in the red.Broader markets also ended lower, with the BSE MidCap Select Index falling 0.48 per cent and the SmallCap Select Index slipping 0.28 per cent. Among sectoral indices, Focussed IT slumped the most by 5.40 per cent, followed by IT, which declined 5.29 per cent.Here are the top gainers and losers of the day:
Nifty50 top gainers
- Bajaj Finance (3.12%)
- Shriram Finance (2.47%)
- Eicher Motors (2.22%)
- ICICI Bank (1.70%)
- Trent (1.59%)
- BEL (1.46%)
- SBI (0.81%)
- Asian Paints (0.76%)
- Max Healthcare (0.74%)
- ONGC (0.64%)
Nifty50 top losers
- Tech Mahindra (-5.99%)
- Infosys (-5.84%)
- TCS (-5.49%)
- HCL Tech (-4.87%)
- Wipro (-4.67%)
- M&M (-2.23%)
- HUL (-2.17%)
- Cipla (-1.48%)
- RIL (-1.35%)
- Adani Enterprises (-1.02%)
BSE Sensex top gainers
- Bajaj Finance (3.12%)
- ICICI Bank (1.70%)
- Trent (1.59%)
- BEL (1.46%)
- SBI (0.81%)
- Asian Paints (0.76%)
- Titan Company (0.63%)
- Bajaj Finserv (0.50%)
- UltraTech Cement (0.47%)
BSE Sensex top losers
- Tech Mahindra (-5.99%)
- Infosys (-5.84%)
- TCS (-5.49%)
- HCL Tech (-4.87%)
- M&M (-2.23%)
- HUL (-2.17%)
- RIL (-1.35%)
- Eternal (-0.90%)
- Kotak Bank (-0.77%)
- HDFC Bank (-0.71%)
“A nosedive correction in the IT index triggered by mounting concerns over AI-led disruptions, along with low expectations of a US Fed rate cut due to strong US job data and unemployment rates, dampened investor sentiment,” Vinod Nair, Head of Research, Geojit Investments Limited, said, PTI quoted.He added that in the global markets, AI is reshaping markets by compressing margins in service-intensive sectors and increasing concentration-led volatility.“In India, this technology shift is likely to structurally transform IT services by accelerating delivery timelines and automating volume-driven tasks, thereby challenging the traditional headcount-based outsourcing model.“A weak sentiment in the IT sector, along with lingering geopolitical tensions between the US and Iran, may influence investors to take a cautious approach in the near term,” Nair said.In Asian markets, South Korea’s Kospi closed over 3 per cent higher. Japan’s Nikkei 225 index and Shanghai’s SSE Composite index also ended on a positive note, while Hong Kong’s Hang Seng benchmark finished in the negative territory.
