Indian benchmark indices faced a significant retreat on February 24, 2026, ending a brief two-session rally as the monthly F&O expiry triggered intense selling pressure. The market was dominated by a sharp downturn in the technology sector, compounded by global trade concerns and domestic derivative adjustments. The BSE Sensex plummeted **1,069 points**, or **1.28%**, to settle at **82,226**. Simultaneously, the NSE Nifty 50 dropped **288 points**, or **1.12%**, closing at **25,425**. This correction wiped out approximately **Rs 4.67 lakh crore** in investor wealth during the single session, reflecting a marked shift in risk appetite. Information Technology was the primary laggard, with the Nifty IT Index crashing nearly **5%** to hit a 30-month low. Major heavyweights led the decline: Tech Mahindra fell **6.60%**, HCL Tech dropped **6.10%**, and Infosys lost **3.91%**. The sell-off was fueled by fears of AI-driven disruption to the traditional labor-arbitrage model and broader uncertainty regarding U.S. trade policies. Global factors played a decisive role in the day's bearish sentiment. New tariff announcements from the United States, including a temporary **15%** tax on imports, rattled emerging markets. Additionally, escalating geopolitical tensions in the Middle East pushed Brent crude prices toward the **$72** per barrel mark, further weighing on the rupee, which hovered near the **91** level against the dollar. Despite the broad-based decline, the Metal index emerged as a notable outperformer, gaining **1.36%** to reach a fresh all-time high. Defensive buying was also seen in select FMCG and PSU bank stocks, though it was insufficient to offset the losses in the tech and financial heavyweights like HDFC Bank and ICICI Bank. Technical indicators suggest the Nifty is currently consolidating below its 100-day exponential moving average. Analysts expect continued volatility as the market awaits India's Q3 GDP data, scheduled for release on February 27. The formation of a bearish candle on daily charts indicates that the index may face further resistance at higher levels in the near term. Institutional activity showed a cautious trend leading into the expiry. While foreign institutional investors (FIIs) had previously injected approximately **Rs 16,912 crore** into the market earlier in the month, the latest session saw aggressive profit booking. Domestic institutional investors (DIIs) continue to act as a cushion, supported by steady SIP inflows of roughly **Rs 30,000 crore** per month.