Global Jitters Fuel IT Carnage: ₹3 Lakh Crore Wiped Out, Sensex & Nifty Plunge – Key Factors

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IT Carnage: ₹3 Lakh Cr Wiped Out, Sensex & Nifty Plunge Amid Global Jitters

People watch a large screen displaying India's benchmark share index on the facade of the Bombay Stock Exchange (BSE) building in Mumbai October 16, 2014. Indian shares fell for a second consecutive session on Thursday, as companies seen most exposed to the global economy such as Hindalco Industries and Sesa Sterlite declined tracking a downturn in global markets. REUTERS/Shailesh Andrade (INDIA - Tags: BUSINESS)

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CNBC TV18•13-02-2026, 16:03

IT Carnage: ₹3 Lakh Cr Wiped Out, Sensex & Nifty Plunge Amid Global Jitters

•Indian equities ended the week deep in the red, with IT stocks losing nearly ₹3 lakh crore in market capitalization.
•Sensex and Nifty declined about 1% for the week; Nifty IT index tumbled 8%, its steepest weekly fall in a year.
•Key triggers for the sell-off included heavy selling in IT stocks due to AI disruption concerns, weak global cues, and a spike in volatility.
•US technology stocks saw a sharp sell-off, impacting global markets; India VIX surged over 15%.
•Rupee weakened against the dollar, settling at 90.64, while most Asia-Pacific markets also ended lower.

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