Heavy selling was seen in American IT stocks on Tuesday, and it also affected the Indian stock market on Wednesday, the third trading day of the week. Amid a slow start to trading in the stock market, shares of major IT companies crashed. Shares of companies like TCS, Infosys, Wipro, HCL and Tech Mahindra fell by more than 5 percent. It is believed that this has happened due to the introduction of new anthropic AI tools in America.
Sensex-Nifty sluggish today
Trading in the stock market started at a slow pace on Wednesday. The 30-share Sensex index of Bombay Stock Exchange could not maintain the previous trading day’s gain of 2072 points. The Sensex opened lower at 83,252.06 compared to the previous close of 83,739.13, although it recovered slightly within a few minutes. National Stock Exchange’s Nifty also slipped to 25,563.95 in early trade from the previous close of 25,727.55.
Heavy fall in IT shares as soon as they opened
Talking about the shares of IT companies, huge selling was seen in them as soon as they opened. TCS stock (5.37%), Infosys share (6.10%), HCL Tech share (5.83%), Wipro share (4%), and LT Mindtree share (6.54%) were trading with heavy losses. Looking at the performance of other IT sector stocks listed in the Indian stock market…
Market boom tomorrow on India-US deal
It is noteworthy that on Monday there was big news regarding the trade agreement between India and America, and President Donald Trump had given a statement regarding its completion. After this, a sharp rise was seen in Sensex and Nifty on Tuesday, which continued till the market closed. Sensex opened at 84,323.20 against previous close of 81,666 and closed at 83,739.13 with a gain of 2072.67 points. Nifty also opened at 26,308 from its previous closing of 25,088 and closed at 25,727.55, a gain of 639.15 points.
What is this new AI tool causing a stir?
The arrival of Anthropic AI tools in the IT sector has created a stir. Anthropic has launched a new AI tool to automate corporate and legal tasks. It is expected that this new tool will bring a big change in the traditional workflow automation done by software companies.
According to experts, people’s thinking has changed with its arrival. People who earlier said that AI helps these companies are now saying that AI is replacing these companies. Soon after its launch, LegalZoom’s shares fell as much as 20%, while Thomson Reuters’ stock also saw a big drop of up to 15%. Additionally, shares of RELX, parent company of LexisNexis, fell 14%.
