Shares of Persistent Systems fell 2.47% to Rs 5,317.50 in Friday’s session on February 13, as global software stocks continued to face intense selling pressure.
The decline follows a sharp overnight rout in global technology counters. Infosys ADR plunged 9.8%, while Wipro ADR dropped 4.6%. Global IT services names were also under heavy pressure, with Globant falling 11%, EPAM declining 8.3%, Cognizant slipping 7%, Accenture losing 3.6%, and IBM down 6.5%.
Broader tech stocks added to the negative sentiment. Apple fell 5%, AMD declined 3.5%, Palantir dropped 4.8%, and AppLovin crashed 20%. Although Salesforce remained flat, ServiceNow rebounded 2.7% and Adobe gained 2%, the overall tone across global technology remained weak.
Indian IT stocks had already corrected on February 12 following ADR weakness, and the continued global sell-off has extended pressure across mid-cap and large-cap IT names alike. Persistent Systems’ decline reflects broader sector-wide risk-off sentiment rather than company-specific developments.
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