Benchmark indices Sensex and Nifty were dragged into the red by the IT stocks in the afternoon session. The Sensex was trading at 83,688.85, down 50.28 points or 0.06 per cent from its previous close of 83,739.13, after opening at 83,252.06.
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New Delhi: Benchmark indices slipped into negative territory by early afternoon on Wednesday as Indian IT stocks extended losses amid a deepening selloff in global technology shares, with investors growing cautious over rising AI-led competition and upcoming earnings from major US tech firms.
The Sensex was trading at 83,688.85, down 50.28 points or 0.06 per cent from its previous close of 83,739.13, after opening at 83,252.06. The Nifty stood at 25,754.55, up 27 points or 0.10 per cent from its previous close of 25,727.55, having opened at 25,675.05.
IT stocks bore the brunt of the selloff, with Infosys leading the decline, falling 8.05 per cent to Rs1,522.70. TCS dropped 6.77 per cent to Rs3,006.90, while Tech Mahindra declined 6.16 per cent to ₹1,610.70. HCL Tech fell 5.31 per cent to Rs1,605.20, and Wipro slipped 4.26 per cent to Rs232.34.
February crude oil futures were trading at Rs5,785 on MCX, up by 1.33% and March futures were trading at Rs5,770, up by 1.30%.
The Indian rupee declined 0.1% versus the U.S. dollar to 90.38, as corporate hedging demand modestly weighed on the currency even as sentiment remained positive following the U.S.-India trade deal.
