The Nifty IT index is down 10 per cent over the past month, while the broader Nifty index is flat, amid fears that AI advances could disrupt Indian IT services, among other factors.
he Indian stock market on Friday closed in the red as the benchmark indices Sensex and Nifty declined over 1 per cent. The indices were dragged by heavy selling in information technology (IT) shares.
Only three sectors witnessed buying in trade including Nifty Media (up 0.93%), Nifty FMCG (up 0.11%) and Nifty PSU Bank (up 0.05%). Nifty IT (0.75%) and Nifty Bank (0.53%) were the key losers.
At close, Sensex ended with a loss of 367 points, or 0.43 per cent, at 85,041.45, while the Nifty 50 settled at 26,042.30, down 100 points, or 0.38 per cent. Among the sectors, losses were recorded in financials, IT, and select pharma names. Tech stocks were among the top laggards, with the
Domestic stock markets opened on a cautious note on Thursday, tracking sharp overnight losses in the US markets, as investors booked profits in high-valuation technology and artificial intelligence (AI) stocks.
The domestic share market opened on a weak note on Tuesday as both the benchmark indices slipped into negative territory, weighed down by a falling rupee and continued foreign portfolio investor (FPI) outflows.
The domestic stock markets opened flat on Tuesday as indices stuck between selling by foreign portfolio investors (FPIs) and buying by domestic institutions. The indices continue to test record levels but have failed to sustain gains above the all-time high marks.
The domestic stock markets opened on a positive note on Wednesday, supported by strong global cues after Nvidia delivered yet another set of blockbuster numbers and boosted confidence around the AI hyperscaling cycle.
Indian stock markets opened on a muted note Tuesday as investors adopted a cautious stance, closely tracking the resumption of Indo-US trade negotiations and awaiting the US Federal Reserve's policy outcome later this week.
Indian stock indices closed the week on a low, hinting that the volatility was far from over. On Friday, Sensex closed at 76,619.33 points, down 423.49 points or 0.55 per cent, while Nifty closed at 23,203.20 points, down 108.60 points or 0.47 per cent. Nifty IT slumped the most at 2.68 per