Virendra Pandit
New Delhi: India’s stock markets lost over 1 percent of their value after Information Technology (IT) companies’ stocks tumbled and benchmark Sensex and Nifty50 plummeted, the media reported on Tuesday.
Equity benchmark indices Sensex and Nifty lost over 1 percent of their value, dragged down by geopolitical uncertainties, heavy losses in IT stocks, concerns over Artificial Intelligence (AI)-led disruptions, and renewed trade-related concerns after US President Donald Trump’s fresh 15% tariff on all countries.
While Sensex tumbled 1,068.74 points (minus 1.28 percent) to settle at 82,225.92, Nifty dropped 288.35 points (minus 1.12 percent) to 25,424.65.
The Indian rupee ended the session at 90.95 (provisional), down 6 paise from its previous close.
Global trade and tariff worries resurfaced, with additional pressure arising from Trump’s warnings on trade deals and reports of possible national-security tariffs.
Among the IT firms, Tech Mahindra became the biggest laggard, declining by 6.6 percent, 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 top gainers.
Broader indices also ended in the negative territory, with the BSE Smallcap Select Index falling 0.68 percent, while the Midcap Select Index slipped 0.54 percent.