India: Daily Stock Market Performance Insight - February 24, 2026

Indian benchmarks experienced a significant downturn on February 24, 2026, as the Nifty 50 fell 1.12% or 288.35 points to close at 25,424.65, while the Sensex dropped 1.28% or 1,068.74 points to finish at 82,225.92. This sharp decline resulted in a midday wipeout of 4.67 lakh crore rupees in investor wealth. Although the Nifty MidCap and SmallCap indices outperformed the main benchmarks by falling only 0.32% and 0.55% respectively, the overall sentiment remained cautious across the broader market.

The primary catalyst for this slump was a double blow of global policy and technology fears. The Nifty IT index crashed 4.74% to 30,053.50, bringing its one-month decline to nearly 21%. This selling pressure was triggered by reports that AI-led disruption might shift the industry toward consulting while shrinking managed services. Simultaneously, US President Donald Trump rattled global markets by announcing new, temporary 15% global tariffs. These factors, combined with US-Iran geopolitical tensions and elevated crude oil prices, weighed heavily on domestic equities.

Sectorally, while Realty dropped 2.54%, the Metal and Oil and Gas indices showed resilience. Specific corporate actions provided isolated gains: Brahmaputra Infrastructure hit a 5% upper circuit at 167 rupees after securing a 397 crore rupee road contract. One Mobikwik Systems rose 1.93% following BSE approval for its subsidiary’s stockbroking business, and Fractal Industries listed at 229 rupees, reflecting a 6.02% premium over its 216 rupee IPO price. Meanwhile, Steel Authority of India was placed under an F&O ban after closing at 156.68 rupees.

Investors face a complex landscape as FIIs bought equities worth 3,483.70 crore rupees while DIIs sold 1,292.24 crore rupees. With equity funds down 3.34% year-to-date and SEBI planning a comprehensive overhaul of Portfolio Management Services regulations, the focus shifts to governance. While Mid Cap strategies have gained 15% year-on-year, investors should watch for continued volatility in the IT sector and potential regulatory impacts on managed investment schemes tomorrow.