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 ₹1,522.70. TCS dropped 6.77 per cent to ₹3,006.90, while Tech Mahindra declined 6.16 per cent to ₹1,610.70. HCL Tech fell 5.31 per cent to ₹1,605.20, and wipro slipped 4.26 per cent to ₹232.34.
The slide in Indian IT stocks mirrored overnight weakness on Wall Street, where the tech-heavy Nasdaq fell 1.4 per cent. Software stocks shed approximately $300 billion in market value as concerns intensified ahead of key quarterly earnings from Alphabet and Amazon.
Supporting the broader market, energy and infrastructure stocks posted gains. Eicher Motors surged 4.54 per cent to ₹292.50, while ONGC climbed 4.18 per cent to ₹267.75. Trent rose 3.47 per cent to ₹3,955.50, power grid gained 2.51 per cent to ₹290.30, and Mahindra & Mahindra advanced 1.97 per cent to ₹3,597.30.
Market breadth remained positive, with 2,445 stocks advancing against 1,534 declining on the BSE, where 4,171 stocks were traded. A total of 74 stocks touched 52-week highs, while 72 hit 52-week lows. The Nifty Midcap 100 rose 0.25 per cent to 59,485.90, and the Nifty Smallcap 100 gained 0.89 per cent to 17,140.20.
Analysts warned that the recent rally driven by optimism around the India-US trade deal may face headwinds from high valuations and sustained global tech weakness, though positive trade sentiment continues to provide underlying support to the market.
Published on February 4, 2026