Share Market Plummets: Sensex Drops 500 Points; Infosys and HCL Tech Hit Hard

Heavy Selling in IT Stocks Triggers Sharp Decline:
The domestic stock market witnessed a significant fall today as heavy selling in IT stocks coincided with reduced expectations of an interest rate cut in the U.S. after stronger-than-expected January data.

The BSE Sensex fell more than 500 points, slipping below 83,800, while the Nifty 50 index dropped over 100 points, trading below 25,850.

Market Details:

• At 11:35 AM, Sensex was at 83,732.30, down 501.34 points (0.60%).
• Nifty traded at 25,821.55, down 132.30 points (0.51%).

Top Losers:

• IT heavyweights such as Infosys, TCS, Tech Mahindra, HCL Tech, Eternal, and Titan fell 2–4%.
• On the other hand, ICICI Bank, NTPC, Axis Bank, Power Grid, and Tata Steel saw marginal gains.

Expert Insight:
VK Vijaykumar, Chief Investment Strategist at Geojit Financial Services, noted that recent U.S. employment data showed a decline in unemployment, which lowered expectations of an imminent rate cut and impacted investor sentiment in India.

Global Market Overview:

• In the U.S., markets saw minor losses: Dow Jones down 66 points, Nasdaq Composite down ~0.2%, S&P 500 also closed slightly lower.
• Japan’s Nikkei 225 crossed 58,000 points for the first time, while South Korea’s Kospi gained 2.1% to a record 5,466.9 points.
• Crude oil prices edged higher, while the Indian rupee opened stronger against the dollar.

Investors are advised to monitor IT stocks closely and track global market cues as volatility continues amid domestic and international developments.