Indian shares hit by IT, metal sell-off
India’s benchmark equity indices fell more than 1 percent on Friday, weighed down by sharp losses in information technology shares amid weak global cues and concerns about artificial intelligence-driven disruptions.
The BSE Sensex dropped 883.4 points, or 1.05 percent, to 82,791.52 around 10 a.m., while the Nifty 50 fell 262.60 points, or 1.02 percent, to 25,544.60, slipping below the 25,550 mark, News.Az reports, citing foreign media.
All 16 major sectoral indices were in negative territory. The metal index declined 3 percent, led by a sharp fall in Hindalco Industries, which dropped 6 percent after reporting a 45 percent decline in quarterly profit.
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The broader markets also faced selling pressure. The Nifty Smallcap100 index fell 2 percent, while the Nifty Midcap100 index declined 1.8 percent.
Within the Nifty50 basket, Infosys, Hindalco Industries, and ETERNAL were among the top losers, sliding as much as 4 percent. On the other hand, Bajaj Finance and Apollo Hospitals Enterprise managed gains of up to 1 percent.
Market breadth remained firmly negative, with about 948 shares advancing, 2,561 declining, and 136 remaining unchanged, reflecting widespread selling pressure across the board.
By Nijat Babayev
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