Infosys, TCS, Wipro — IT Stocks Extend Decline To Third Day, Following Global Selloff

The Indian IT sector has faced a significant downturn, with the Nifty IT index, which tracks the performance of the country's ten largest IT firms, plummeting by 5.2% after the market opened. This decline marks the third consecutive day of losses for IT stocks, following a broader global selloff that has affected technology shares worldwide. Key players in the industry, including Infosys, Tata Consultancy Services (TCS), and Wipro, have all felt the impact, reflecting investor concerns over rising interest rates and geopolitical tensions that are influencing market dynamics. As global tech stocks face pressure, analysts are closely monitoring the situation to assess the potential long-term effects on the Indian IT landscape. The current market trends underscore the volatility within the sector, prompting investors to be cautious as they navigate through these challenging times. This downturn raises questions about the resilience of the Indian IT industry, which has been a crucial driver of the nation’s economic growth in recent years, highlighting the need for strategic adjustments in response to shifting global market conditions.