Nifty Falls Close to 25,850 as Sensex Slides 265 Points; IT Stocks Tumble 3%

Sensex Falls 265 Points, Nifty Near 25,850; IT Stocks Lead the Decline

Equity markets opened weak on Thursday, pressured by heavy selling in information technology (IT) stocks.

The BSE Sensex slipped 265 points, or 0.31%, to 83,963, while the Nifty50 declined 81 points, or 0.31%, to 25,873. Broader indices also reflected the weakness, with the Nifty MidCap down 0.46% and the Nifty SmallCap falling 0.68%.

IT Sector Bears the Brunt

The sectoral sell-off was led by IT stocks, with the Nifty IT index plunging 2.87%, making it the worst-performing sector of the day.

Global Markets Snapshot

Asian markets traded higher, led by Japan’s Nikkei 225, which surged past the 58,000 mark for the first time, extending its post-election rally on improved confidence in domestic political stability and economic policies.

• Nikkei 225: +0.5%

• South Korea KOSPI: +1.9%

• Australia S&P/ASX 200: +0.6%

In the US, major indices ended slightly lower on Wednesday amid corporate earnings updates and a stronger-than-expected January jobs report:

• S&P 500: flat

• Nasdaq Composite: -0.16%

• Dow Jones: -0.13%

Investors will closely watch global cues and sectoral trends as markets attempt to find direction.