The Indian stock markets witnessed a brutal sell-off today, with the Sensex crashing 980 points and the Nifty falling over 1%. The decline was led entirely by the IT index, which saw localized crashes of over 4% in heavyweights like Infosys and Wipro. Renewed fears over the impact of generative AI on service contract renewals, combined with uncertainties over US tariff policies, have driven investors toward a ‘sell-on-rally’ mode. The bearish sentiment was further amplified by monthly derivative expiry and rising crude oil prices due to geopolitical tensions.
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