Stock markets dive over 1% as IT stocks crumble; Sensex plunges 1,068.74 points

Equity benchmark indices Sensex and Nifty tumbled more than 1% on Tuesday (February 24, 2026), dragged down by heavy losses in IT stocks amid concerns over artificial intelligence-led disruption and renewed trade-related uncertainties.

Rising global crude prices amid escalating U.S.-Iran tensions and sluggish global cues also hit investor sentiment, traders said. The 30-share BSE Sensex plummeted 1,068.74 points, or 1.28%, to settle at 82,225.92. During the day, the benchmark plunged 1,359.93 points, or 1.63%, to hit an intraday low of 81,934.73.

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The 50-share NSE Nifty fell 288.35 points, or 1.12%, to close at 25,424.65. In the intraday session, it depreciated by 385.4 points, or 1.49%, to hit a low of 25,327.60.

“Domestic markets registered a sharp decline, led by significant weakness in IT stocks amid renewed global concerns over AI-driven disruption and margin pressures for traditional service providers,” Vinod Nair, Head of Research, Geojit Investments Ltd, said.

Global trade and tariff worries resurfaced as well, with additional pressure arising from Mr. Trump’s warnings on trade deals and reports of possible national-security tariffs, he added.

Tech Mahindra emerged as the biggest laggard, declining by 6.6%, followed by HCL Technologies, Eternal, Infosys, Tata Consultancy Services, Larsen & Toubro, Trent, Bharti Airtel, HDFC Bank, Bharat Electronics Ltd and ICICI Bank. On the other hand, NTPC, Hindustan Unilever, Tata Steel, PowerGrid, Titan, Reliance Industries, Axis Bank, and Sun Pharmaceuticals were among the gainers.

Broader indices also ended in the negative territory, with the BSE Smallcap Select Index falling 0.68%, while the Midcap Select Index slipped 0.54%. Mr. Nair further said that realty stocks also came under strain on expectations that prolonged stress in the IT sector could weigh on real estate demand and valuations.

In Asian markets, South Korea’s Kospi, Shanghai’s SSE Composite Index, and Japan’s Nikkei 225 benchmark ended higher, while Hong Kong’s Hang Seng closed in red territory. European stock markets were trading lower in mid-session deals, with Germany’s DAX, London’s FTSE 100 and Paris’ CAC 40 trading down up to 0.27%.

“Meanwhile, escalating US-Iran tensions, marked by embassy staff evacuations and Iran’s warnings of wider regional escalation, intensified risk aversion. Overall, markets remain highly sensitive to geopolitical risks and sector-specific pressures, driving investors toward defensive, domestically focused segments,” Mr. Nair said.

The U.S. equity market ended nearly 2% lower on Monday (February 23). Brent Crude, the global oil benchmark, rose 0.22% to $71.66 per barrel.

Foreign Institutional Investors (FIIs) bought equities worth ₹3,483.70 crore on Monday (February 23), while domestic institutional investors were net sellers of stocks worth ₹1,292.24 crore, according to exchange data. On Monday (February 23), the 30-share BSE Sensex climbed 479.95 points to settle at 83,294.66, while the NSE Nifty advanced 141.75 points to close at 25,713.

Published – February 24, 2026 05:10 pm IST