Shares of Infosys declined 6.65% to Rs 1,293.90 in Indian markets on Friday, February 13, mirroring sharp overnight weakness in its American Depository Receipt (ADR), which plunged 9.8% on Wall Street.
The fall comes amid a broad-based global technology sell-off, with major software and IT services companies facing intense pressure. Wipro ADR dropped 4.6%, while global peers such as Globant fell 11%, EPAM declined 8.3%, Cognizant slipped 7%, Accenture lost 3.6%, and IBM dropped 6.5%.
Broader technology counters also witnessed sharp cuts. Apple fell 5%, AMD declined 3.5%, Palantir dropped 4.8%, and AppLovin crashed 20%. While Salesforce remained flat, ServiceNow rebounded 2.7% and Adobe gained 2%, offering limited support to the overall tech sentiment.
The latest decline follows weakness seen on February 12, when Indian IT stocks had already corrected after ADR losses. The sharp move in Infosys reflects continued risk-off sentiment in global software names, which is spilling over into domestic IT majors.
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