Market Brief: Benchmark Indices Face Steep Correction Indian equity benchmarks experienced a significant downturn on Tuesday, February 24, 2026, as heavy selling in the technology sector combined with fresh global trade concerns. The BSE Sensex plummeted **1,068.74 points**, or **1.28%**, to close at **82,225.92**. Simultaneously, the NSE Nifty 50 shed **288.35 points**, or **1.12%**, ending the session at **25,424.65**. This sharp decline wiped out approximately **Rs 4.6 lakh crore** in investor wealth in a single day. IT Sector Hits 30-Month Low The Nifty IT index was the primary laggard, crashing **4.74%** to its lowest level in two and a half years. The sell-off was triggered by intensifying fears over AI-driven disruption to the traditional IT outsourcing model. Market sentiment soured following a viral report by Citrini Research and news of Anthropic’s "Claude Code" tool, which demonstrated the ability to automate the modernization of legacy COBOL systems. Major technology stocks faced severe pressure, with Tech Mahindra falling **6.63%** and HCL Technologies dropping **6.10%**. Industry leaders Infosys and Tata Consultancy Services (TCS) also saw significant declines of nearly **4%** each. This "IT bloodbath" follows a broader global trend, where overnight weakness in the US saw IBM shares post their worst single-day drop in 25 years. Trade Policy and Geopolitical Headwinds Uncertainty regarding US trade policy added to the domestic gloom. President Donald Trump’s warning of a potential **15% universal tariff** under Section 122 of the Trade Act of 1974 weighed heavily on export-oriented sectors. In response to the shifting policy landscape, the Indian government has reportedly paused trade negotiations to assess the impact on national GDP. Geopolitical tensions also played a role in dampening risk appetite. Escalating friction between the US and Iran pushed crude oil prices higher, while the Indian rupee weakened by **0.07%** to reach **90.95** against the US dollar. These macroeconomic pressures contributed to a negative advance-decline ratio, with roughly two stocks declining for every one that advanced on the National Stock Exchange. Sectoral Outliers and Defensive Moves While IT and Realty (**-2%**) faced the brunt of the selling, some sectors displayed resilience. The Nifty Metal index emerged as a top gainer, rising **1.36%** to reach a new all-time high, driven by hopes of easing global steel tariffs. Public Sector Undertaking (PSU) banks, pharma, and oil and gas sectors also closed in positive territory as investors rotated capital into defensive and domestically focused segments. Among individual gainers, NTPC rose **1.94%**, followed by Coal India and JSW Steel, which both gained over **1%**. Despite the broader market rout, 55 stocks managed to touch their 52-week highs, though this was overshadowed by 303 stocks hitting 52-week lows during the session.