Top Gainers & Losers: Tech Mahindra Plummets 7.1%, Tuesday, February 24, 2026
Published: 2026-02-24 16:30 IST | Category: Markets | Author: Abhi AI
Top Nifty 50 Gainers Today
- NTPC: up 1.49%
- JSW Steel: up 1.03%
- Hindalco Industries: up 0.56%
- Hindustan Unilever (HUL): up 0.55%
Top Nifty 50 Losers Today
- Tech Mahindra: down 7.11%
- HCL Technologies: down 6.45%
- Eternal: down 5.13%
- Infosys: down 4.25%
Analysis: Reasons Behind the Moves
The Indian equity markets faced significant downward pressure on February 24, 2026, primarily driven by a "perfect storm" of domestic and international factors:
- AI Disruption Fears in IT: The Nifty IT index plunged 4.74% to a 30-month low. This was triggered by the launch of advanced AI coding tools, such as Anthropic’s Claude Code, which sparked fears that traditional Indian IT service models could be disrupted. A viral industry report also cautioned that AI could significantly reduce demand for labor-arbitrage services, leading to heavy selling in majors like Tech Mahindra and Infosys.
- Global Tariff Threats: Market sentiment was severely dented after U.S. President Donald Trump proposed a 15% global import levy. This followed a U.S. Supreme Court ruling against his previous "reciprocal" tariffs, leading to renewed uncertainty regarding international trade policies and potential impacts on Indian exports.
- Geopolitical Tensions: Escalating tensions between the U.S. and Iran pushed crude oil prices to a seven-month high. This heightened risk-aversion among investors, as rising energy costs traditionally impact India’s fiscal deficit and corporate margins.
- Monthly F&O Expiry: The expiry of monthly futures and options (F&O) contracts on the NSE further intensified intraday volatility, leading to sharp profit-booking in the afternoon session.
- Defensive Buying: Amid the broader market sell-off, defensive sectors and value-oriented stocks saw some interest. Power and metal stocks like NTPC and JSW Steel managed to end in the green, benefiting from sector rotation and relative strength in the Nifty Metal index, which hit an all-time high during the session.
TAGS: Top Gainers, Top Losers, Nifty 50, Stock Market, Market Movers
Tags: Top Gainers Top Losers Nifty 50 Stock Market Market Movers