As per data, the Nifty IT Index has corrected nearly 42 per cent from its all-time high of 46,089, recorded in December 2024, and is now trading close to its April 2023 lows.
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In the past three weeks, the Nifty IT index tanked 13 per cent, as against 2 per cent rise in the Nifty 50.
Indian IT stocks fell on Friday as Accenture narrowed its annual revenue growth forecast and issued weaker-than-expected fourth-quarter guidance, despite steady quarterly earnings.
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Fed decision, weak US cues: At 10:18 AM on Thursday, the Nifty IT index was the top sectoral loser, down 1 per cent, as against a 0.10 per cent rise in the Nifty 50.
Brokerages see strategic benefits from HCL Tech's investment in Sarvam, though long-term returns will depend on the AI firm's ability to scale and execute effectively
HCLTech's bet on Sarvam AI is aimed at tapping the sovereign AI opportunity in India and globally, says CEO C Vijayakumar
HCL Tech is investing $150 million in Sarvam for a 10.46 per cent stake
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The sovereign AI startup raised $234 million in the first close of its Series B round, with HCLTech emerging as the lead strategic investor
Hitesh Rathi, technical analyst at Angel One says that IT stocks continue to trade with a negative bias on the charts, and are prone to further fall if they dip below the crucial support zones.
Thus far in the calendar year 2026, the market price of TCS tanked 33 per cent, as compared to 11.5 per cent fall in the Nifty 50.
Stocks to watch today: Oil India, ixigo, ZEEL, GE Vernova, Amber Enterprises, HCLTech, RailTel, Andhra Cement, Tata Steel, Tata Motors, among others, will be in focus today.
IT stocks witnessed heavy selling pressure on Wednesday tracking overnight losses in technology shares in the US market. Indian ADRs cracked up to 8%.
CLSA found that most SaaS companies have either maintained or increased their revenue and margin guidance for the upcoming fiscal year and beaten consensus EPS
Indian IT stocks have fallen up to 34 per cent in 2026 as AI disrupted outsourcing model. Analysts remain cautious on FY27 outlook. They prefer TCS, Infosys, HCLTech, Coforge
The Nifty IT index has corrected 27 per cent on a Y-T-D basis, in comparison, the Nifty 50 index has declined 9.5 per cent in the same period.
The Nifty IT index has underperformed the markets in 2026 so far and emerged as top sectoral loser as well. As per data, the index has corrected 26 per cent on Y-T-D basis.
In 2026 so far, TCS, Infosys, HCL Tech, Tech Mahindra, and Wipro have declined in the range of 17 per cent to 33 per cent. In comparison, the Nifty 50 index has dived 10 per cent, data showed.