Stock market crash: TCS, Infosys, Suzlon Energy, Ola Electric among 264 stocks that hit 52-week low on NSE

NIFTY50 and SENSEX snap their 2-day winning streak to trade lower on Tuesday, February 24. Benchmark indices witnessed a sharp decline today amid multiple headwinds like weak sentiments in the global markets and fresh sell-off in IT stocks.

As of 1:15 pm, NIFTY50 is down 285 points or 1.1% to trade at 25,427, with a day low of 25,387. Meanwhile, BSE SENSEX declined 1,069 points or 1.2% to trade around 82,229. SENSEX hit a day low of 82,134 today.

Why did Indian markets crash today?

Indian markets saw a steep decline today, mainly due to a sell-off in heavyweight IT stocks like TCS, Infosys, Tech Mahindra, Wipro and others. Meanwhile, the NIFTY IT index is trading over 5% lower. The Information Technology (IT) sector has the second-highest weightage in the NIFTY50 index at 10.83%. Hence, any fall in IT stocks impacts the overall benchmark index.

The fresh sell-off in the IT stocks came after Artificial Intelligence (AI) firm Anthropic announced that its Claude Code tool can help modernise legacy systems built on COBOL, which triggered selloff in US markets as well, with IBM shares falling over 13% in the US stock market.

Besides this, the rising US-Iran geopolitical concern has also made the investors nervous, leading to elevated Brent Crude Oil prices which are currently trading around $72 per barrel.

Broader market indices like NIFTY Midcap100 (-1.1%) and NIFTY Smallcap100 (+1.1%) are also trading lower. More than 260 stocks hit their 52-week low today as investors did profit booking amid weak market sentiments.

The volatility index, or India VIX, is up 4.3% to 14.79. Among NIFTY sectoral indices NIFTY IT (-5.2%), NIFTY Realty (-2.8%) and NIFTY Media (-1.8%) were the top losers, while NIFTY Pharma (+0.1%) was the sole gainer.

Prominent stocks at 52-week low today