AI Driven Disruption Fears Cause IT Stocks to Bleed: Nifty BSE Record Loss

Udaipur, Feb 24, 2026; The Indian benchmark indices broke the two-session rally and ended notably lower on Feb 24, the monthly F&O expiry. The NIFTY 50 slipped below the 25,450 mark as their was heavy selling in IT stocks due to concerns over AI-driven disruption. The BSE Sensex also recorded steep losses.

The market opened weak, with the Nifty starting below 25,650. Selling pressure intensified through the session, dragging the index below 25,350 intraday.

• Sensex: Down 1,068.74 points (1.28%) at 82,225.92
• Nifty: Down 288.35 points (1.12%) at 25,424.65

Broader markets also ended in the red:

• Nifty Midcap Index: -0.3%
• Small-cap Index: -0.55%

Sectoral Performance

• IT: Worst performer, plunged over 4%
• Realty: Down more than 2%
• Gainers: Metal, Pharma, PSU Banks, Oil & Gas, and Energy stocks rose between 0.3% and 1%

Nifty Outlook

The Nifty formed a bearish candle with a lower high and lower low, giving up the previous two sessions’ gains and signaling selling pressure during the monthly expiry.

• The index has been consolidating in the 25,350–25,900 range over the past eight sessions.
• A breakout or breakdown beyond this range will determine the next directional trend.
• Volatility is expected to remain elevated amid uncertain global cues.

Key Levels to Watch:

• Downside Trigger: Below 25,327 (Tuesday’s low)
  • Further decline could extend towards the 200-day EMA and previous gap zone at 25,100–25,200
• Immediate Resistance: 25,642 (Tuesday’s high)
  • Failure to cross this level may keep the short-term bias corrective.

Bank Nifty Outlook

The NIFTY Bank formed a small bearish candle with a long lower shadow, indicating consolidation amid stock-specific action. PSU banking stocks continued to outperform.

Outlook:

• Bias remains positive.
• Dips may be considered buying opportunities.
• Support Zone: 60,500–60,200 (confluence of 20-day EMA and key retracement level).
• Expected Near-Term Range: 60,000–61,750.
• A decisive breakout beyond this range could trigger fresh directional momentum.

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