Why the Stock Market is Falling Today: The domestic equity indices--Sensex, Nifty--crashed during the intraday session on February 24 with broad-based selling. At the time of writing, the BSE Sensex was trading at 82,154.24, down 1,140.41 points or 1.37 per cent, while Nifty 5o was trading at 25,377.25, down 335.75 points or 1.31 per cent
Sensex, Nifty Opened Lower
The domestic equity indices fell significantly in the opening hour on February 24 amid subdued global cues and persistent selling in IT stocks. The BSE Sensex started the session with a gap-down of over 200 points at 83,052.54 against last day's closing of 83,294.66. Similarly, NSE's Nifty50 opened in red at 25,641.80 as compared to 25,713.
Top Losers And Gainers: HCL Tech, Bharti Airtel, Infosys, TCS, Eternal, Tech Mahindra, Bajaj Finance, BEL, Trent, Bajaj FinServ, Adani Ports, ITC and Mahindra and Mahindra were the top losers from the Sensex basket. While PowerGrid, Asian Paints, SBI, Axis Bank, and NTPC were trading in green.
Why the Stock Market Is Falling Today
The sharp decline erupted due to persistent selling in IT stocks, and investors turned cautious as US President Donald Trump is scheduled to hold a press address today on tariffs, following the European Union's pause of the trade deal after the US Supreme Court's crackdown on steep tariffs.
Escalating Tariff Tensions
"President Trump’s State of the Union address today and the message that he will convey will be keenly watched by markets globally. The EU freezing the deal with the US in light of the tariff changes following the US Supreme Court verdict and Trump’s warnings to countries backing away from deals indicate that the tariff drama has more in store for economies and markets. We will have to wait and watch how this drama plays out," said Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
AI Threats Continue For IT Stocks
Meanwhile, the IT sector continues to bleed amid weakness in tech stocks stemming from the potential AI impact.
"The weakness in the ADRs of Indian IT companies indicates that this segment will continue to remain under pressure," said Vijaykumar.
Iran-US Tension
The escalating tension between Iran and the US is among the major factors dragging the market sentiment. A tension would raise the oil prices, and it could bring a lot of disruption in the trade cycle as well.
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