• Source:JND

IT Stocks Down Today: A massive selloff was seen in the IT stocks on Thursday amid sustained concern around the emergence of AI tools that could impact their businesses. The Nifty IT Index fell by over 4 per cent amid a sharp decline in tech heavyweights such as Infosys, TCS, Tech Mahindra, and LTIMindtree.

The decline in the IT heavyweights dragged market sentiment, as the Sensex and Nifty traded sharply lower in the early hours.

IT Stocks Today

At the time of writing, the Indian IT heavyweights from the Nifty IT Index were down up to 5 per cent.

Coforge Share Price: The shares were trading 5 per cent down at 1,4,46.30.

Infosys Share Price: Infosys Shares were trading 4.4 per cent lower at Rs 1,406.50.

LTIMindtree Share Price: LTIM shares were down 4.2 per cent and were trading at Rs 2,478 per share.

Wipro Share Price: Wipro's shares were trading at Rs 220.36, down 4.11 per cent.

Persistent share price: The shares were trading at Rs 5,494.50, down 4.01 per cent.

Tech Mahindra Share price: TechM shares were trading at Rs 1,570.10, down 3.93 per cent.

TCS Share Price: The shares of Tata Consultancy Services were trading at Rs 2,796.90, down 3.88 per cent.

HCL Tech Share Price: The shares of HCL Tech were trading at Rs 1,500.10, down 3.32 per cent.

Why are IT Stock Falling?

According to experts, Indian tech stocks, reeling under the Anthropogenic shock, are unlikely to recover soon.

"The sharp dip in the ADRs of top Indian IT companies in the US yesterday indicates that Indian IT will continue to struggle. The switch from IT to other segments will help performing stocks in performing sectors," said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

Stock Market Today

The domestic equity indices are trading sharply lower in the early hours, dragged by a heavy sell-off in the IT sector and profit booking in Automobiles and other sectors. At the time of writing, the BSE Sensex was trading at 83,895.98, down 337.66 points or 0.40 per cent, while Nifty50 was doing business at 25,853.80, down 100.05 points or 0.39 per cent


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