
Several Indian companies linked to the artificial intelligence and data centre ecosystem traded lower on Tuesday, mirroring weakness in global technology stocks as investors pared exposure to AI-focused names. Netweb Technologies India fell nearly 2% to ₹5,010.80, while Orient Technologies declined 2.24% to ₹251.50. E2E Networks slipped 1.59% to ₹440, and data centre developer Anant Raj was down 0.88% at ₹527.60. According to reports from Moneycontrol, the cautious sentiment follows a selloff in AI and technology stocks globally, with traders rotating out of the so-called "Magnificent Seven" technology names.
The weakness comes after the technology sector dragged Wall Street lower in the previous session. The S&P 500 declined 0.37%, while the tech-heavy Nasdaq Composite fell 1.32%. In the US, S&P 500 futures fell 0.53% on Tuesday, while Nasdaq 100 futures dropped nearly 1%, signalling continued pressure on growth and technology stocks. As reported by Moneycontrol, investor sentiment toward AI-related stocks deteriorated as traders rotated out of the "Magnificent Seven" technology names, with Amazon falling nearly 5%, Meta Platforms losing 2%, and Alphabet dropping 5%, marking its steepest single-day decline in more than a year amid concerns over the departure of key artificial intelligence researchers.
The negative sentiment extended to the metal sector, with Nifty Metal index losing 2.7% on June 23 as global metal prices declined after previous session's uptick on US-Iran peace hopes. Hindustan Zinc shares were trading 4.4% lower, tracking fall in silver prices, while Vedanta Ltd fell over 7.5% to a one-month low of ₹282 after exchange data showed about 7.3 crore Vedanta shares traded at ₹292 apiece through block deals. The block deal comes after reports that promoter entity Twin Star Holdings was likely to sell up to 6.5 crore shares via block trades, with a floor price of ₹291 per share. NALCO and Hindalco shares were trading 5.3% and 2.75% lower, respectively, as aluminium touched a three-month low amid progress in Middle East peace talks that fueled expectations of a return of supplies from the key metal-producing region.
The negative mood spilled over into Asia-Pacific markets, with South Korea's Kospi plunging more than 6%, while the Kosdaq fell 6.27%. Japan's Nikkei 225 declined 1.5%, snapping an eight-session winning streak, while the broader Topix index slipped 0.79%. Mainland China's CSI 300 fell 1%, and Hong Kong's Hang Seng Index declined 0.16%. According to Moneycontrol, Australia's S&P/ASX 200 eased 0.11%, while India's Nifty 50 was also trading lower, down 0.22%. SpaceX shares also came under heavy pressure, falling 16% and extending losses for a third consecutive session.
Despite the broader weakness, Black Box bucked the trend, rising 3.26% to ₹1,014 despite weakness across the technology and digital infrastructure space. As reported by Moneycontrol, the divergent performance highlights selective investor interest within the AI and data centre ecosystem, with some companies benefiting from the rotation while others face selling pressure. The contrasting performance suggests varying investor confidence levels across different segments of the technology sector.