IT Stocks Selloff Continued: Infosys and TCS Report 6 Percent Decline
The stock market has seen an unexpected change as the IT stocks have dropped significantly. A nearly 6% decrease in the shares of TCS and Infosys caused the Nifty IT index to fall. Wipro shares also saw a fall. The IT stock selloff is still continued.
Due to worries about the impact of artificial intelligence (AI) on business models and decreasing prospects for an early US Federal Reserve rate reduction, shares of information technology (IT) firms came under significant selling pressure on Thursday, pushing the Nifty IT index down 6% to 33,058.20 in intraday trading on the National Stock Exchange (NSE), according to the reports. On Friday, the trend continued.
The Nifty IT index reached its lowest point in over nine months, falling to its lowest level since April 17, 2025. On April 7, 2025, it had previously hit a 52-week low of 30,918.95, as the report says.
No particular company-specific news caused the vulnerability. It rather represents a combination of worldwide drivers and growing doubt over the future of artificial intelligence in the industry, as per the media reports.
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