The rupee too continued its downward spiral, hitting a fresh low of 95.75 against the US dollar before closing at 95.63 — the lowest it has ever ended a session. Key stock indices fell nearly 2% on Tuesday, largely driven by a selloff in IT stocks on AI-related fears, with investor sentiment remaining downbeat on account of the ongoing West Asia crisis showing no sign of abating and Prime Minister Narendra Modi’s austerity advisory to citizens. The rupee too continued its downward spiral, hitting a fresh low of 95.75 against the US dollar before closing at 95.63 — the lowest it has ever ended a session. The Nifty IT sectoral index fell 3.7% to its lowest level since May 2023 after AI giant OpenAI said on Monday that it is setting up a company to help organisations deploy AI systems. The IT sector has already been hit by concerns of ‘AI-deflation’ to its order books and loss of future business due to Anthropic’s success with its Claude suite of models. The Nifty IT is down over 25% so far in 2026.…