Today Stock Market Highlights: Sensex Slides Over 600 Points; Nifty Holds Above 24,000 Amid IT Selloff

Indian benchmark indices closed under pressure on Friday, with the Sensex tumbling more than 600 points, while the Nifty managed to stay above the crucial 24,000 level. The sharp decline in heavyweight IT stocks weighed heavily on market sentiment, overshadowing strength in several other sectors. Despite weakness in the frontline indices, broader market participation remained resilient, with advancing stocks outnumbering decliners. Mid-cap and small-cap indices ended in positive territory, reflecting continued buying interest beyond the large-cap space. Market volatility also eased significantly from its intraday highs. IT Selloff Overshadows Broader Market Strength A steep correction in major technology stocks emerged as the primary drag on the benchmarks. While sectors such as telecom, pharmaceuticals, power, and capital goods witnessed buying interest, their gains were insufficient to offset the sharp losses in IT counters. Top Nifty Losers: IT Heavyweights Lead the Decline $INFY s plunged 6.75%, emerging as the biggest drag on the Nifty. $TCS declined 3.55%. $TECHM fell 2.63%. $HCLTECH slipped 2.59%. HDFC Bank also weakened 2.40%, adding further pressure on the benchmark indices. Market Breadth Remains Positive The contrast between the benchmark indices and the broader market highlighted stock-specific weakness in large-cap IT names rather than widespread risk aversion. Positive market breadth, coupled with gains in mid-cap and small-cap segments,indicated underlying strength across several sectors despite the headline decline in the Sensex and Nifty. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.