Dalal Street opened on a weak note Tuesday, snapping its recent uptrend as heavy selling in information technology stocks dragged the benchmarks lower.
Negative global cues, especially from the US, weighed on investor sentiment in early trade. The S&P BSE Sensex slipped 572.60 points to 82,722.06, while the NSE Nifty50 declined 156.60 points to 25,556.40 at 9:27 am.
IT Shares Sink on Global Weakness
The Nifty IT index dropped sharply by 3.18%, emerging as the biggest drag on the market. The selloff followed losses on Wall Street overnight, where technology stocks came under pressure amid persistent concerns about artificial intelligence-led disruption and global trade uncertainty.
Among major IT counters:
- Coforge Ltd fell 4.05%
- Persistent Systems Ltd declined 3.73%
- HCL Technologies Ltd slipped 3.63%
- Mphasis Ltd dropped 3.54%
- Infosys Ltd lost 3.39%
- Tech Mahindra Ltd was down 3.05%
- Tata Consultancy Services Ltd fell 2.91%
- Wipro Ltd slipped 2.64%
- LTIMindtree Ltd declined 2.60%
- Oracle Financial Services Software Ltd fell 1.63%
The broad-based decline signalled sustained pressure on export-focused IT firms, which remain sensitive to global growth and policy developments.
Broader Market Under Pressure
Selling was not limited to IT, though the sector bore the brunt of the decline. At the open, only a handful of stocks managed to stay in the green.
Tata Steel Ltd led the gainers with a rise of 0.31%, followed by State Bank of India Ltd (up 0.28%), Asian Paints Ltd (0.23%), Axis Bank Ltd (0.14%), and Power Grid Corporation of India Ltd (0.13%).
On the flip side, Eternal Ltd dropped 3.84%, while HCL Technologies Ltd, Infosys Ltd, Tech Mahindra Ltd and Tata Consultancy Services Ltd were among the top laggards, mirroring the sharp correction in the IT space.
Global Cues Weigh on Sentiment
Investor mood turned cautious after fresh uncertainty surrounding US trade policy. Wall Street ended lower overnight after US President Donald Trump warned trading partners against backing out of recently negotiated agreements.
His remarks came after the US Supreme Court struck down emergency tariffs. However, Trump indicated that he could explore alternative legal routes to impose higher duties if necessary.
The renewed threat of tariffs and the possibility of escalating trade tensions dented global risk appetite, prompting investors to trim exposure to equities, particularly in sectors vulnerable to global demand shifts.
Market participants will now watch global developments and institutional flows closely for further direction as volatility persists.
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