Mumbai, Feb 12: Benchmark BSE Sensex fell 558 points on Thursday amid heavy selling in IT shares, as concerns over AI-led disruptions and waning hopes of a Fed rate cut after firm US economic data weighed on investor sentiment.
The 30-share BSE Sensex declined 558.72 points, or 0.66 per cent, to settle at 83,674.92. During the day, it tanked 716.97 points, or 0.85 per cent, to hit an intraday low of 83,516.67.
The 50-share NSE Nifty declined 146.65 points, or 0.57 per cent, to end at 25,807.20.
Technology stocks led the slide, with Tech Mahindra, Infosys and Tata Consultancy Services (TCS) tumbling nearly 6 per cent each to emerge as major laggards on the Sensex.
HCL Technologies, Mahindra & Mahindra, Hindustan Unilever, Reliance Industries, Eternal, HDFC Bank, IndiGo, Kotak Mahindra Bank, and Adani Ports also ended in the red.
On the other hand, Bajaj Finance, ICICI Bank, Trent, Bharat Electronics Ltd, State Bank of India, Asian Paints, Bajaj Finserv, Titan, Larsen & Toubro, Bharti Airtel and Tata Steel were among the gainers.
Among sectoral indices, Focussed IT slumped the most by 5.40 per cent, followed by IT by 5.29 per cent.
Realty also fell by 1.50 per cent, Oil & Gas and Energy fell by 1.18 per cent each, Services by 0.81 per cent, FMCG by 0.43 per cent, Consumer Discretionary by 0.38 per cent and Commodities by 0.32 per cent on the BSE.
Shares of TCS tumbled 5.41 per cent, dragging its market capitalisation below the Rs 10 lakh crore mark for the first time.
At the end of the trading session, the company’s market valuation stood at Rs 9,95,661.50 crore, pushing it down to the sixth spot among the country’s most valuable listed companies.
In Asian markets, South Korea’s Kospi closed over 3 per cent higher. Japan’s Nikkei 225 index, Shanghai’s SSE Composite index also ended on a positive note, while Hong Kong’s Hang Seng benchmark finished in the negative territory.
Brent crude, the global oil benchmark, fell 0.27 per cent to USD 69.21 per barrel. (PTI)
