Nifty IT tumbles as AI disruption fears spark sell-off; Clean Max Enviro IPO is closing tomorrow – Paper by Pocketful

Feb 24, 2026

Signpost India (-0.05%): Stock remained unchanged despite securing a ₹450 crore order from Kolkata Municipal Corporation for exclusive outdoor advertising rights across key locations under the ‘Kolkata Streetscape Renaissance’ project, supporting revenue visibility.
Patel Engineering (+1.40%): Stock moved after the company, along with its JV partners, emerged as the lowest bidder for a ₹133.25 crore contract from Maharashtra Krishna Valley Development Corporation for irrigation infrastructure projects, enhancing order book visibility.
Pace Digitek (+1.33%): Stock moved after its subsidiary, Lineage Power, secured a ₹158.7 crore order from Reliance Industries for supplying Li-ion battery packs, strengthening its order book.
HUDCO (-2.07%): Stock fell after the National Stock Exchange announced its exclusion, along with three other companies, from the Futures & Options segment effective April 29, 2026.

Metal | Nifty Metal (+0.93%): The index advanced with 11 gainers and 3 losers, supported by rising global commodity prices, improved demand outlook, and broad-based buying across metal stocks.
Energy | Nifty Energy (+0.78%): The index advanced on the back of rising crude oil prices and improved demand outlook, led by gains in NTPC, IOC, and Adani Energy, supporting the up move across the sector.
IT | Nifty IT (-4.74%): The index declined sharply amid rising fears of AI-led disruption after Anthropic’s claims on automating legacy software modernization, triggering heavy selling in stocks like TCS, Infosys, and HCLTech, with weak investor sentiment dragging the sector lower.
Realty | Nifty Realty (-2.54%): The index declined sharply with all constituents trading in the red, as weak sentiment and demand concerns triggered broad-based selling, with major losses in Prestige Estate, DLF, and Lodha Developers.

Technical Level: Nifty opened with a gap down and witnessed sharp selling in early trade, facing resistance near 25,640. The decline extended into the second session, finding support around 25,330, followed by a mild recovery towards the closing.
Advance-Decline Ratio: Market breadth remained negative, with 1,069 advances against 2,102 declines, indicating broad-based selling pressure across the market.
The Big Picture: Tesla stock remained under pressure as Europe sales fell 17% YoY in January, marking the 13th straight monthly decline, amid rising competition from BYD and other EV players, weakening market share, and limited new model launches impacting demand.
FII/DII Activity (Feb 23, 2026): FIIs remained net buyers with inflows of ₹3,483 crore, while DIIs turned sellers with outflows of ₹1,292 crore, limiting further upside in the market.

IPO Corner: Clean Max Enviro Energy IPO is closing tomorrow, giving investors a final chance to subscribe amid rising interest in the renewable energy sector.
Macro: China Loan Prime Rate 1Y & USA ADP Employment Change Weekly are scheduled to be released next week.
Index Watch: Nifty formed a strong bearish candle on the daily chart, breaking key support near 25,600 and closing near the day’s low, indicating sustained selling pressure; immediate resistance is placed around 25,640, while key support is seen at 25,330, with the decline driven by global uncertainty and sharp weakness in the Nifty IT index, reflecting a cautious near-term outlook.

Theme: Stock Market Basics (Understand - Analyze - Act)

Not every stock is a good stock.

Think of it like choosing a restaurant. You won’t go where there are no customers, bad reviews, or poor service.

Similarly, a good company shows:

Avoid companies that suddenly spike without reason—it’s often hype, not real growth.

Practical approach: Look at 3–5 year growth. If the business is steadily improving, it’s worth considering.

👀 Stay tuned. Stay diversified.

Until next time,

Team Pocketful.

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