Mumbai, Feb. 24 -- Indian benchmark indices suffered a major setback on Tuesday, as a brutal sell-off in the information technology sector dragged the market into the deep red. The expiry of monthly F&O contracts on the NSE intensified volatility.

The barometer index, the S&P BSE Sensex advanced 479.95 points or 0.58% to 83,294.66. The Nifty 50 index gained 141.75 points or 0.55% to 25,713. In the two consecutive trading sessions, the Sensex and Nifty jumped 0.95% and 1.01%, respectively.

The primary catalyst for the decline was a massive rout in IT heavyweights, triggered by fears of AI-led disruption after Anthropic's "Claude Code" tool raised concerns about the long-term viability of the traditional labor-arbitrage model. Adding to t...