Equity Indices Decline Amid Global Tech Weakness and Rising Oil Prices

The Nifty 50 index was down by 116.95 points to 25,836.90 while the Sensex was down by 417.41 points to 83,816.23.

On Thursday, the Indian equity markets faced a downturn as the Sensex slid 0.62% to 83,715.26 and the Nifty fell 0.53% to 25,816.30, primarily driven by a sharp sell-off in IT stocks like Tech Mahindra and Infosys. This decline was triggered by robust US jobs data, which dampened hopes for early Federal Reserve rate cuts, alongside growing anxieties that AI-driven automation could disrupt the labor-heavy business models of domestic software firms. While gainers like Bajaj Finance and SBI provided some support, overall market sentiment remained pressured by rising Brent crude prices fueled by US-Iran tensions and a negative market breadth, signaling broader concerns over inflation and prolonged high interest rates.