 "Analysts at JP Morgan believe IT services firms have not seen direct impact of the virus so far, but risks to “business-as-usual” delivery of said services are increasing")
Shares of information technology (IT) companies were under pressure on Wednesday with sector giant Tata Consultancy Services (TCS) and Wipro hitting their respective 52-week lows on the National Stock Exchange (NSE) in the early morning trade on concerns over potential impact from COVID-19 (Coronavirus).
Nifty IT index, the top loser among the key sectoral indices, too hit its 52-week low of 14,356, down 3.4 per cent on the NSE. The index was at its lowest level since January 15, 2019, when it had touched 14,262 points in the intra-day trade. In comparison, the benchmark Nifty50 index hit an intra-day low of
