Equity benchmarks Sensex and Nifty opened sharply lower on Friday amid heavy selling pressure triggered by a sharp decline on Wall Street, driven by fears of AI-led disruption across global technology stocks. The BSE Sensex fell 700 points to 82,972 in early trade, while the Nifty 50 slipped over 200 points, breaching the 25,600 mark.
The sell-off in US markets, particularly in tech, has raised concerns over potential delays in interest rate cuts, fuelling negative sentiment and prompting investors to reassess valuations in high-growth sectors.
The Nifty IT index bore the brunt of the decline, with major tech giants Infosys and TCS each dropping nearly 6 per cent at the opening bell, dragging the broader market lower.
The weakness was visible pre-open, with Nifty trading 150–200 points lower in the GIFT Nifty, reflecting mounting pressure on domestic investors amid the global rout. All major indices opened in the red: Nifty 50, Nifty Midcap, and Nifty Small Cap reflected widespread selling across segments.
However, the Nifty Bank index showed relative resilience, holding steadier compared with the broader market. Among the top gainers in early trade were Coal India, Hindalco, IRCTC and Biocon.
The sharp fall comes as India prepares to host its first major AI summit in Delhi later in 2026, highlighting global concerns over the transformative—and potentially disruptive—impact of artificial intelligence on traditional industries and valuations.
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