Stock Market Decline: TCS, Infosys, and 264 Others Reach Low Points

The Indian stock market experienced a significant downturn on February 24, 2026, as key indices NIFTY50 and SENSEX faced a sharp decline. As of 1:15 pm, NIFTY50 fell by 285 points, or approximately 1.1%, to reach 25,427, while SENSEX dropped by 1,069 points, translating to 1.2%, to settle around 82,229.

This decline interrupted a two-day streak of gains, primarily driven by negative investor sentiment amidst pressures from both domestic and international fronts. The sell-off was particularly pronounced in the Information Technology (IT) sector, with shares of significant players such as Tata Consultancy Services (TCS) and Infosys suffering substantial losses. The NIFTY IT index reported a drop of over 5%.

The downturn among IT stocks was accelerated by an announcement from Anthropic, an artificial intelligence company, regarding its new tool, Claude Code, which is designed to update legacy systems built on COBOL programming. This news prompted a sell-off in the US market, significantly affecting companies like IBM, whose shares plummeted by over 13%.

In addition to the impact from the tech sector, rising geopolitical tensions between the United States and Iran contributed to market unease. As these tensions escalated, Brent Crude Oil prices surged, currently trading around $72 per barrel, further stoking investor jitters.

Broader market indices also reported declines, with NIFTY Midcap100 and NIFTY Smallcap100 showing dips of 1.1%. Over 260 stocks reached their 52-week lows, as investors engaged in profit booking amid weak sentiment across the market.

Further indicators of market unease included the volatility index, known as India VIX, which rose by 4.3%, reaching a value of 14.79. Among the sectoral indices, NIFTY IT, NIFTY Realty, and NIFTY Media each reported significant losses, while NIFTY Pharma was the only sector to show a slight gain of 0.1%.

This market performance encapsulates the current challenges facing investors, particularly in the face of external pressures and a rapidly changing economic landscape.