IT shares decline across the board

The Nifty IT index tumbled 6.50% to 12,514.50, extending losses for fifth day.

The index has fallen 21.15% in five trading sessions. The IT index is currently trading 25.87% lower from its 52-week high of 16,882.45 hit on 19 February 2020.

The index has recovered 889.65 points or 7.65% from the early low of 11,624.85.

Among the index constituents, Hexaware Technologies (down 18.43%), Persistent Systems (down 12.03%), HCL Technologies (down 10.73%), Oracle Financial Services Software (down 9.35%), MindTree (down 8.62%), Wipro (down 7.73%), MphasiS (down 6.81%), Tech Mahindra (down 6.19%), TCS (down 3.96%) and Infosys (down 2%) declined.

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