Major Indian IT stocks, including TCS, Infosys, and HCLTech, saw a sharp decline of around 2%, causing a broader impact on the Nifty IT index.
Other tech stocks like Tech Mahindra, LTIMindtree, and Coforge also suffered losses.
This drop could be due to concerns over global economic slowdown, weak earnings forecasts, or reduced demand for IT services from overseas clients.
The IT index had been gaining for three consecutive sessions, but today’s market trend reversed the upward momentum.
SOURCE: https://www.indiatoday.in/business
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