The bloodbath in Indian equity markets continued on Saturday, with the Sensex and Nifty closing sharply lower for the second straight day amid fears of AI-led disruption and heavy selling in global tech stocks. The BSE Sensex plunged 1,048 points (1.25 per cent) to close at 82,626, while the Nifty 50 shed 336 points (1.30 per cent) to finish at 25,471. The Bank Nifty lost 553 points, ending at 60,186.
Investors have suffered massive losses of over Rs 1.94 lakh crore in just two days, driven by uncertainty in global markets and sharp declines in the IT, metals, and pharma sectors.
The sell-off mirrored a rout on Wall Street, where the Nasdaq corrected 5.50 per cent from its one-month high of 23,857, with major tech names including NVIDIA, Apple, Alphabet, Meta, and Microsoft facing intense pressure.
Precious metals also declined amid investor uncertainty. Silver settled at Rs 2,44,999 per kg—down nearly Rs 175,000 from its record high of Rs 4,20,048 per kg. Gold traded in the range of Rs 150,000–158,000 per 10 grams.
The Indian rupee weakened to 90.67 against the US dollar on Friday (from 90.59 on Thursday), falling by about 8 paise due to a stronger dollar boosted by reports of Russia considering a return to dollar-based settlements.
On Saturday morning, however, the rupee showed slight recovery, strengthening 2 paise to trade at 90.5050.
The ongoing volatility has been triggered by global concerns over AI’s potential to disrupt traditional industries and valuations, with Indian IT heavyweights bearing the brunt of the sell-off.
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