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Informist, Tuesday, Feb. 24, 2026

 

By Eshitva Prakash

MUMBAI – The benchmark equity indices ended sharply lower Tuesday after rising for two days, primarily because of a massive sell-off in information technology stocks. An overnight decline in US stocks and the uncertainty around US import tariffs were major reasons for the sharp fall, analysts said. The weekly expiry of Nifty 50 derivative contracts added to the volatility in the market.

 

There were two key triggers for the fall in US software stocks, according to several media reports. First, a blog post by artificial intelligence company Anthropic, which said the company's Claude Code tool could be used to modernise legacy systems that run Common Business-Oriented Language, or COBOL. COBOL is an important computer language for several domestic IT majors and is used extensively in banking and insurance systems, analysts said.

 

Second, a report by Citrini Research over the weekend said rapid development in AI could hurt the broader US economy and lead to 10% unemployment, according to media reports. This research paper was cited by traders on Wall Street for the weakness seen in software as well as in financial service stocks, a CNBC report said.

 

The Nifty IT index ended nearly 5% lower at 30053.50 points, its lowest closing level since August 2023. Wipro, Tata Consultancy Services, Infosys, HCL Technologies, and Tech Mahindra all ended 3-7% lower. Among smaller IT companies, Mphasis, Coforge, LTIMindtree, Persistent Systems, and Oracle Financial Services Software closed 3-5% lower.

 

The Nifty 50 index ended at 25424.65 points, down 288.35 points or 1.1%. The BSE Sensex closed at 82225.92 points, down over 1000 points or 1.3%. Select energy and metal companies such as NTPC, Coal India, JSW Steel, and Hindalco Industries ended about 1% higher in a weak market. A 1?cline in each of ICICI Bank and HDFC Bank was among the big drags on the 50-stock index. 

 

US President Donald Trump Monday threatened higher tariffs on countries that intend to "play games" after the US Supreme Court's decision to scrap his signature reciprocal tariffs. "Any Country that wants to play games with the ridiculous Supreme Court decision, especially those that have 'Ripped Off' the USA for years, and even decades, will be met with a much higher Tariff, and worse, than that which they just recently agreed to," Trump wrote in a post on Truth Social. "BUYER BEWARE!!!" he added for good measure.

 

 

Most countries that faced higher reciprocal tariffs will want to rework their deals with the US, analysts said. However, those countries that have struck a deal will still face up to 15% tariffs after Trump used Section 232 of the Trade Act of 1974 to impose blanket tariffs. This move, combined with Trump's threats of additional tariffs, has added to uncertainty about the India-US trade deal, the framework of which was signed recently.

 

The European Commission urged the US to stick to last year's trade agreement after Trump's global tariff hike. "The current situation is not conducive to delivering 'fair, balanced, and mutually beneficial' transatlantic trade and investment, as agreed to by both sides," The Times of India reported the European Commission saying. "The EU (European Union) freezing the deal with the US in light of the tariff changes following the US Supreme Court verdict and Trump's warnings to countries backing away from deals indicate that the tariff drama has more in store for economies and markets," V.K. Vijayakumar, chief investment strategist, Geojit Investments, said.

 

Shares of Eternal ended over 5% lower, falling for the sixth session running. The stock has fallen over 11% in this period. Global brokerage Jefferies said the total addressable market in quick-commerce remains attractive but the competition in the sector is intense, according to CNBC-TV18. Jefferies expects the company's margin expansion to remain modest. Its quick-commerce arm, Blinkit, will continue to create growth risks despite the management's confidence in a positive margin for the platform, it said.

 

Shares of most Indian textile companies ended lower after the government reduced benefits for exporters under the Remission of Duties and Taxes on Exported Products Scheme for textiles and gems and jewellery by restricting incentives to 50% of notified rates and value caps. Shares of Arvind Ltd. ended nearly 5% lower and those of Trent fell 3%. The allocation for the scheme has been cut to INR 100 billion in the financial year 2026-27 (Apr-Mar) from INR 182.33 billion in FY26, ICICI Securities said. The rates under the scheme were in the range of 0.3% to 3% and cutting the benefits by half is likely to raise export costs by 1–2%, the brokerage said.

 

Among Nifty 200 companies, Waaree Energies, Adani Energy Solutions, and Siemens Energy India rose the most, up 3-4%. Smaller IT players were among the worst hit in the Nifty 200 index and Nifty 500 index.

 

Among Nifty 500 companies, Natco Pharma ended nearly 6% higher. Shares of the company have risen almost 15?ter it said on Feb. 14 that it had received approval from the Central Drugs Standard Control Organisation to manufacture and market generic semaglutide injections in India. Tuesday, the company added that it had partnered with Eris Lifesciences to commercialise the drug in India.

 

* Of the Nifty 50 stocks, 17 rose, 33 fell

* Of Sensex stocks, 7 rose and 23 fell

* On the NSE, 1,070 stocks rose, 2,104 fell, and 99 were unchanged

* On the BSE, 1,422 stocks rose, 2,802 fell, and 160 were unchanged

* Nifty IT: down 4.7%; Nifty Realty: down 2.5%; Nifty Metal: up 0.9%

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BSE                                                 NSE

Sensex: 82225.92, down 1068.74 points or 1.3%       Nifty 50: 25424.65, down 288.35 points or 1.1%

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S&P BSE Sensitive Index	Nifty 50
Lifetime High: 86159.02 (Dec. 1, 2025)	: Lifetime High: 26373.20 (Jan. 5, 2026)
Record Close High: 85836.12 (Sept. 26, 2024)	: Record Close High: 26328.55 (Jan. 2, 2026)
2026 1st day close: 85188.60 (Jan. 1)	: 2026 1st day close: 26146.55 (Jan. 1)
2026 Closing High: 85762.01 (Jan. 2)	: 2026 Closing High: 26328.55 (Jan. 2)
2026 Closing Low: 80722.94 (Feb. 1)	: 2026 Closing Low: 24825.45 (Feb. 1)
2026 High (intraday): 85883.50 (Jan. 5)	: 2026 High (intraday): 26373.20 (Jan. 5)
2026 Low (intraday): 79899.42 (Feb. 1)	: 2026 Low (intraday): 24571.75 (Feb. 1)
2025 1st day close: 78507.41 (Jan. 1)	: 2025 1st day close: 23742.90 (Jan. 1)
2025 Closing High: 85720.38 (Nov. 27)	: 2025 Closing High: 26215.55 (Nov. 27)
2025 Closing Low: 72989.93 (Mar. 4)	: 2025 Closing Low: 22082.65 (Mar. 4)
2025 High (intraday): 86159.02 (Dec. 1)	: 2025 High (intraday): 26325.80 (Dec.1)
2025 Low (intraday): 71425.01 (Apr. 7)	: 2025 Low (intraday): 21743.65 (Apr. 7)
2024 1st day close: 72271.94 (Jan. 1)	: 2024 1st day close: 21741.90 (Jan. 1)
2024 Closing High: 85836.12 (Sept. 26)	: 2024 Closing High: 26216.05 (Sept. 26)
2024 Closing Low: 70370.55 (Jan. 23)	: 2024 Closing Low: 21238.80 (Jan. 23)
2024 High (intraday): 85978.25 (Sep. 27)	: 2024 High (intraday): 26277.35 (Sept. 27)
2024 Low (intraday): 70001.60 (Jan. 24)	: 2024 Low (intraday): 21137.20 (Jan. 24)
2023 1st day close: 61167.79 (Jan. 2)	: 2023 1st day close: 18197.45 (Jan. 2)
2023 Closing High: 72410.38 (Dec. 28)	: 2023 Closing High: 21778.70 (Dec. 28)
2023 Closing Low: 59288.35 (Feb. 27)	: 2023 Closing Low: 17311.80 (Oct. 17)
2023 High (intraday): 72484.34 (Dec. 28)	: 2023 High (intraday): 21801.45 (Dec. 28)
2023 Low (intraday): 58699.20 (Jan. 30)	: 2023 Low (intraday): 17098.55 (Jan. 17)
2022 1st day close: 59183.22 (Jan. 3)	: 2022 1st day close: 17625.70 (Jan. 3)
2022 Closing High: 63284.19 (Dec. 1)	: 2022 Closing High: 18812.50 (Dec. 1)
2022 Closing Low: 51360.42 (Jun. 17)	: 2022 Closing Low: 15293.50 (Jun. 17)
2022 High (intraday): 63583.07 (Dec. 1)	: 2022 High (intraday): 18887.60 (Dec. 1)
2022 Low (intraday): 50921.22 (Jun. 17)	: 2022 Low (intraday): 15183.40 (Jun. 17)
2021 Closing High: 61305.95 (Oct. 14)	: 2021 Closing High: 18338.55 (Oct. 14)
2021 Closing Low: 46285.77 (Jan. 29)	: 2021 Closing Low: 13634.60 (Jan. 29)
2021 High (intraday): 61353.25 (Oct. 14)	: 2021 High (intraday): 18350.75 (Oct. 14)
2021 Low (intraday): 46160.46 (Jan. 29)	: 2021 Low (intraday): 13596.75 (Jan. 29)
2020 Closing High: 47751.33 (Dec. 31)	: 2020 Closing High: 13981.95 (Dec. 30)
2020 Closing Low: 25981.24 (Mar. 23)	: 2020 Closing Low: 7610.25 (Mar. 23)
2020 High (intraday): 47896.97 (Dec. 31)	: 2020 High (intraday): 14024.85 (Dec. 31)
2020 Low (intraday): 25638.90 (Mar. 24)	: 2020 Low (intraday): 7511.10 (Mar. 24)
2019 High (intraday): 41809.96 (Dec. 20)	: 2019 High (intraday): 12293.90 (Dec. 20)
2019 Low (intraday): 35287.16 (Feb. 19)	: 2019 Low (intraday): 10583.65 (Jan. 29)
2018 High (intraday): 38938.91(Aug. 28))	: 2018 High(intraday): 11760.20 (Aug. 28)
2018 Low (intraday): 32483.8 (Mar. 23)	: 2018 Low (intraday): 9951.9 (Mar. 23)
2017 High (intraday): 34005.37 (Dec. 26)	: 2017 High(intraday): 10515.10 (Dec. 26)

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End

 

Edited by Rajeev Pai

 

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