Nifty IT dips 5.51 pc, erasing Rs 1.6 lakh in market cap; TCS touches 52-week low
NEW DELHI: The technology sector saw heightened panic selling on Thursday, sending the Nifty IT index down 5.51 per cent to a four‑month low as investors were spooked over AI‑led disruption and weaker hopes for near‑term US interest‑rate cuts.
The combined market capitalisation of Nifty IT constituents collapsed to Rs 27,32,579 crore down roughly Rs 1.6 lakh crore.
Shares of major software exporters tumbled over 5.5 per cent each, with Tata Consultancy Services falling 5.48 per cent to a 52‑week low of Rs 2,750 on the NSE. Infosys slid 5.48 per cent, Tech Mahindra plunged 6.40 per cent, and HCLTech, Mphasis and Wipro each lost about 4.5–5 per cent, leaving the entire IT index deep in the red.
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