Sensex Plunges 550+ Points, Nifty Below 25,850; IT Stocks Bleed on AI Fears

• Benchmark equity indices Sensex and Nifty closed sharply lower, with Sensex down 558.72 points and Nifty falling 146.65 points.
• IT stocks led the decline, with Tech Mahindra, Infosys, and TCS plunging nearly 6% due to AI disruption concerns and fading US Fed rate cut hopes.
• Broader markets also saw weakness, with BSE MidCap Select Index slipping 0.48% and SmallCap Select Index declining 0.28%.
• Financials, defence, and telecom stocks like Bajaj Finance, ICICI Bank, and Bharti Airtel offered some support.
• Geopolitical tensions and weak IT sector sentiment may lead to a cautious approach from investors in the near term.