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.
Analysts believe HCL Technology's softer revenue guidance versus expectations and an AI deflation impact of 3-5% will likely raise concerns about overall industry growth for FY27.
Anand James, chief market strategist at Geojit Investments highlights that Infosys and HCL Technologies look weak on charts as both were trading below March lows and the lower-end of Bollinger Bands.
LTIMindtree was the top loser, down nearly 6 per cent, followed by Coforge, Infosys, and Mphasis, falling over 5 per cent each
IT stocks came under sharp selling pressure today after HCLTech's Q4 results and weak growth guidance.
HCLTech guided for revenue growth of 1-4 per cent in CC at the company level, and 1.5-4.5 per cent for its services business - the lowest in at least six years
Stocks to Watch today, April 22, 2026: HCLTech, SBI, Swiggy and others will remain in focus; here's why
Client cutbacks, macro jitters trim growth expectations
HCLTech CEO and MD C Vijayakumar termed the year as one with an uncertain demand environment
Q4FY26 company results: Firms including Persistent Systems, Tata Investment Corporation, Cyient DLM, and Sunteck Realty are also to release their January-March earnings today
Stocks to Watch today, April 21, 2026: From PNB Housing to HCLTech, here are key stocks that will remain in focus
HCLTech Q4 results preview: Brokerages tracked by Business Standard estimate HCLTech's net profit at an average of ₹4,716 crore, compared with ₹4,307 crore a year ago