Mumbai:- The Indian stock market witnessed a sharp decline today. At the end of the trading session, the Bombay Stock Exchange index Sensex fell 1,048 points to close at 82,627. Similarly, the National Stock Exchange's Nifty also fell 336 points to 25,471. During this period, 28 out of 30 Sensex shares closed in the red. Metal, IT and energy sector shares suffered the most losses in today's trading.
The growing concerns about artificial intelligence in the US are being said to be behind this huge fall in the market. There is a fear among investors that new artificial intelligence tools can badly affect the business of traditional IT services in the coming time.
Due to this fear, shares related to artificial intelligence suffered losses in the US markets, which directly affected Indian IT companies as most of their business depends on American customers. The fall in IT shares put pressure on the entire market. It is worth mentioning that this series of declines in the market continued on February 12 when the Sensex closed down by 558 points and the Nifty by 147 points. Today, the Nifty IT index recorded a huge decline of 5.51 percent, which is a big setback for the IT sector.