- Nifty IT index fell up to 2.27% with all nine stocks declining in early trade
- HCL Technologies and Persistent Systems dropped 3.32% and 3.56%, respectively
- Infosys, Oracle Financial Services, and Coforge also fell between 2.37% and 2.57%
The Nifty IT index has emerged as the biggest loser in early trade on Thursday, falling as much as 2.27% at 27,640, with all nine constituents in the red amid a global selloff in technology stocks.
HCL Technologies Ltd. and Persistent Systems Ltd. were the steepest decliners, falling 3.32% and 3.56%, respectively.
Infosys Ltd. dropped 2.37% to Rs. 1,118.20, while Oracle Financial Services Software Ltd. shed 2.48% to Rs. 9,235.50. Coforge Ltd. fell 2.57%, Wipro Ltd. slipped 1.48%, Mphasis Ltd. lost 1.90%, Tech Mahindra Ltd. declined 1.84%, and TCS dropped 1.34% to Rs. 2,125.
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The combined market capitalisation of the index shed Rs. 43,979.63 crore from the day's open.
The selloff mirrors overnight weakness across global technology indices. The Nasdaq Composite fell nearly 2% in Wednesday's US session, while Hong Kong's tech-heavy Hang Seng slipped approximately 1% and South Korea's KOSPI declined around 1.5%.
Sentiment in the domestic IT space has faced an additional structural headwind through 2026, with Anthropic's release of Fable 5 - its most advanced publicly available AI model - adding to investor concerns over AI-driven disruption to India's traditional IT services model.
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