Indian IT stocks took a sharp dive in early trade on Monday amid a broader market meltdown triggered by mounting global tensions and fears of a slowdown in tech spending. At 9:25 AM, benchmark indices Sensex and Nifty were down sharply, dragging the Nifty IT index and its key constituents along with them.
Top IT losers: Coforge, Infosys, Tech Mahindra, HCL Tech lead the slide
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Coforge plunged 7.31% to ₹6,125.00
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Infosys tumbled 7.16% to ₹1,347.70
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Tech Mahindra dropped 6.87% to ₹1,230.25
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HCL Technologies fell 5.99% to ₹1,336.95
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KPIT Technologies slipped 5.93% to ₹1,066.80
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Persistent Systems declined 5.77% to ₹4,343.90
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Mphasis down 5.67% at ₹2,102.70
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L&T Technology Services (LTTS) slid 5.43% to ₹4,042.00
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Tata Technologies lost 5.30% at ₹614.30
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TCS dropped 5.04% to ₹3,133.05
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Wipro down 4.99% at ₹234.00
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Tata Elxsi fell 4.71% to ₹4,818.30
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Oracle Financial Services Software (OFSS) slipped 4.10% to ₹7,213.10
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LTIMindtree declined 3.17% to ₹4,004.95
Sensex, Nifty falls over 3.5% as global volatility rattles markets
At 9:25 AM, the Sensex had dropped 2,769.74 points or 3.68% to 72,594.95, while the Nifty 50 was down 889.95 points or 3.89% at 22,014.50. Global market jitters, especially from a fresh wave of trade tensions between the U.S. and China, have led to massive risk-off sentiment across sectors, with the tech-heavy IT index bearing the brunt of selling pressure.
Disclaimer: The above views are based on official market data and public information. Please make any and every investment decision after consulting your financial advisor.
