AI's potential to disrupt IT business wipes out ₹4.62 lakh crore
Indian stock markets took a hit on Thursday, with the Sensex dropping 559 points and Nifty50 down 147 points.
Separately, Friday's larger opening losses wiped out ₹4.62 lakh crore in market value—ouch.
IT stocks take a hit
If you're following the markets or work in tech, this is a big deal.
IT giants like Infosys and TCS saw their shares fall over 5%, and other major players like Wipro, HCL Tech, and Tech Mahindra also dropped sharply.
The trigger? Fresh worries that new AI tools—like those just announced by Anthropic—could disrupt traditional IT business.
Global impact and expert advice
It wasn't just India; global tech stocks fell too. The US Nasdaq lost over 2%, and Asian markets followed suit after the AI news spooked investors everywhere.
Experts like Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, are urging people not to panic-sell right now: "Panic selling in IT stocks at this stage may not be a good idea. Investors may wait and watch for the dust to settle."