Sensex, Nifty slip below 24,000 in 2026 IT selloff

Market opens weak, losses deepen by afternoon

Domestic benchmark indices stayed under pressure during afternoon trade on Tuesday after a muted start. Selling intensified in information technology and metal names, keeping broader sentiment cautious. This came even as geopolitical tensions in West Asia were described as easing, which typically supports risk appetite. The session showed that sector-specific selling, especially in IT, was strong enough to outweigh the marginal relief from external headlines. Traders also had company-specific events on the calendar that kept focus on large IT counters.

Tuesday snapshot: Sensex down 524 points, Nifty below 24,000

As of 12:36 PM, the BSE Sensex was down 523.80 points, or 0.68%, at 76,570.27. The NSE Nifty 50 fell 164 points, or 0.68%, to 23,938.75, slipping below the 24,000 level that is widely tracked as a psychological support.

The update also noted that the Sensex was down 592 points from the previous close, while the Nifty 50 was lower by 185.6 points. Even with some inconsistencies in intraday reference levels, the direction was clear: the indices remained firmly in the red through the middle of the session.

IT and metal stocks lead the decline

The market decline was led by IT and metal shares, with the most visible pressure in large-cap technology names. The report highlighted selling concentrated in information technology and metal stocks, keeping sectoral indices weak. In this setup, index heavyweights in IT had an outsized impact on the Sensex and Nifty.

Nifty IT hit by large-cap selling ahead of Infosys AGM

IT weakness was linked to both global cues and stock-specific positioning. The Nifty IT index fell ahead of Infosys’ annual general meeting scheduled later in the day. Key IT players such as TCS, Infosys, Wipro, and Mphasis declined in a 2% to 3% range, while Oracle Financial Services Software was the only gainer mentioned, up about 1%.

Later in the session, technology stocks remained among the biggest drags. The Nifty IT index ended down 2.23%, described as one of the worst-performing sectoral indices of the day. Among Sensex constituents, Infosys fell 3.36%, TCS declined 3.16%, HCLTech dropped 1.79% and Tech Mahindra lost 1.31%.

Global tech selloff and AI disruption concerns in focus

The pressure on Indian IT services names was linked to the broader global technology selloff. The article also pointed to concerns that artificial intelligence-led disruption could affect growth prospects for Indian IT services companies. While the report did not quantify the impact on earnings or order books, it framed AI-related uncertainty as part of the negative backdrop that investors were weighing.

Friday’s sharper fall: Accenture commentary triggers fresh worries

A separate market episode described an even steeper IT-led selloff on Friday, when Dalal Street slipped close to 1% in early trade and snapped a five-session winning streak. The fall was attributed to heavy selling in information technology stocks after Accenture’s latest earnings commentary raised concerns about technology spending.

In early trade at 9:25 am, the S&P BSE Sensex was down 724.34 points, or 0.94%, at 76,685.64, and the NSE Nifty50 fell 201.70 points, or 0.83%, to 23,966.30, again below 24,000. Another update said the Sensex touched 76,624.90 after falling 786.58 points, while the Nifty dropped 210.95 points to 23,959.80.

IT stocks under pressure: biggest losers and sector moves

On Friday, Infosys was singled out as the biggest Sensex loser in early trade, down 7.84% in one update and “more than 8%” in another. TCS fell 5.91% (or around 6%), Tech Mahindra dropped 5.51% (or nearly 5%), and HCLTech declined 5.13% (or nearly 5%) during the opening session.

Sector indices reflected the intensity of the move. The BSE IT index declined 3.57% during the session, while another update said it tumbled over 5% in early deals. The Nifty IT index was reported to have fallen more than 6% intraday to 26,634.50, its weakest level since April 2023. By the close in one summary, the Nifty IT index was down 3.65% to 27,426.85.

Close of trade: indices finish lower as IT weighs

By the end of Friday’s session, one update said the Sensex closed at 76,681.29, down 982.71 points or 1.27%, while the Nifty 50 settled at 23,897.95, down 275.10 points or 1.14%. Another summary pegged the close at Sensex down 608 points (0.78%) to 76,802.90 and Nifty down 154.90 points (0.64%) to 24,013.10.

The common thread across updates was consistent: IT selling drove the broader decline, and the Nifty repeatedly struggled around the 24,000 area.

Reliance AGM on the radar alongside IT volatility

Alongside the IT selloff, Reliance Industries’ AGM was a key event for investors. Reliance traded in positive territory ahead of its AGM in one update, with attention on announcements related to the company’s new energy business and a possible Jio IPO timeline. Another section referenced the 49th AGM where chairman Mukesh Ambani presented the group’s roadmap. Market participants were also described as assessing the announcements from Reliance’s AGM during Friday’s decline.

Key numbers table: Tuesday vs Friday moves

Market impact and why this matters

The repeated breaks below 24,000 highlight how sensitive benchmarks are to large-cap IT moves. In both Tuesday’s and Friday’s trade, technology counters were described as the biggest drag, and sector indices such as the Nifty IT and BSE IT posted some of the sharpest declines. Falling crude oil prices were noted as a positive influence in Friday’s narrative, but the IT-led selloff outweighed that support.

What investors will watch next

Near-term attention remains on sector-specific cues, especially global commentary on IT spending and company events like AGMs. Updates cited the Infosys AGM as a focal point on Tuesday, while Reliance’s AGM was closely watched on Friday for strategic signals on new energy and Jio. With IT sector volatility high and the Nifty repeatedly testing the 24,000 zone, traders are likely to stay focused on large-cap IT price action and any further global guidance-related triggers.