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On February 24, 2026, India’s Nifty IT index extended losses, plunging 5% by 12:36 PM IST. The sharp decline in IT heavyweights like Infosys, TCS, and Wipro dragged the Nifty 50 below 25,450 and the Sensex down over 1,000 points. Investor wealth eroded by nearly ₹2.94 lakh crore.
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Key Highlights:
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Index Performance: At 12:36 PM IST (Feb 24, 2026), the Nifty IT index tumbled 5%, marking its steepest single-day fall in months. The Nifty 50 slipped below 25,450, while the Sensex dropped over 1,000 points to 82,350.
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Sector Drag: Heavyweights including Infosys, TCS, Wipro, and Persistent Systems led the decline, with Persistent down nearly 7%.
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Market Impact: The sell-off wiped out ₹2.94 lakh crore in investor wealth, pulling total BSE market capitalization down to around ₹466 lakh crore.
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Global Cues: Renewed tariff concerns from the US and weak Asian market trends added to investor caution.
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Broader Market: MidCap and SmallCap indices also traded lower, reflecting widespread weakness across sectors.
Contextual Insights:
Analysts attribute the sharp IT decline to concerns over contract cancellations and margin pressures, with global uncertainties amplifying the sell-off. The Nifty IT index has now fallen over 35% from its record high, underscoring sectoral vulnerability. Despite today’s rout, experts suggest long-term fundamentals remain intact, though volatility is expected to persist.
Sources: The Economic Times, The Hindu BusinessLine, Business Standard
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