Benchmark indices plunged nearly 2% on Friday, dragged down by a broad-based sell-off wiping out Rs 8.8 lakh crore in market capitalization. For the week, the total wealth erosion has been recorded at ₹20 lakh crore.

Nifty 50 ended the session with a 1.85% decline, closing at 22,128 points, marking its biggest single day fall of 2025 while Sensex recorded its worst intraday fall of the year, tumbling 1.90% to 73,198 points.

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The Nifty 50 index opened downside at 22,433 and touched an intraday low of 22,104. Sensex today opened lower at 74,201 and touched an intraday low of 73,141.

All sectors were trading red while IT, tech, auto, and telecom received maximum beating in today’s bloodbath on Dalal Street. Nifty Auto, FMCG, PSU Bank, Healthcare, Oil & Gas, and Media indices slumped between 2-4%.

Nifty IT index, which tracks the performance of 10 leading IT companies, has emerged as the worst-performing sector today, ending the session with a 4.18% decline, hitting a six-month low of 37,167.

Shares of IT companies faced significant selling pressure triggered by renewed tariff threats from US President Donald Trump, which stoked fears of disruption to Indian IT exports

BSE Small-cap index crashed around 2.35%, while the BSE Mid-cap index lost close to 2%.

On Nifty, the top gainers were HDFC Bank (1.86%), Shriram Finance (1.73%), Coal India (1.51%), Trent (0.96%), and Hindalco Industries (0.38%). While the top losers were Tech Mahindra (6.32%), Wipro (5.72%), Indusind Bank (5.41%), Mahindra & Mahindra (5.19%), and Bharti Airtel (4.86%).

Bank Nifty concluded at 48,743.8, with an intraday high of 48,574.5 and a low of 48,078.7.

Shares of Coal India advanced about 2%, supported by a fresh announcement from the company, and Hindalco Industries, part of the Aditya Birla Group, continued their upward momentum, rising about 0.5% during the session.

Shares of NBFC, Shriram Finance, gained over 2%, extending their rally for another session while HDFC Bank gained about 2% continuing to enjoy gains with the RBI’s latest move to lower risk weights.

The fall in the stock market was also fueled by US President Donald Trump’s tariff announcement on Thursday that proposed 25% tariffs on Mexican and Canadian goods starting March 4.