Indian equity markets witnessed a sharp downturn as information technology stocks spearheaded a widespread selloff, rattling investor confidence and wiping out significant market value. Concerns over global economic headwinds, muted earnings guidance, and persistent foreign fund outflows weighed heavily on sentiment. Benchmark indices declined markedly, with technology counters bearing the brunt of the pressure amid fears of slowing demand from key overseas markets. The downturn extended across sectors, reflecting heightened volatility and risk aversion among institutional investors.