 "IT MARKET, IT SECTOR, NIFTY")
India's top information technology (IT) services companies — Tata Consultancy Services, Infosys, Wipro, and HCLTech — were expected to outperform during a downturn on Dalal Street as the bulk of their revenues comes from exports. However, IT services companies have become the biggest laggards on the bourses, leading to a sharp decline in their weight in the benchmark Nifty 50.
The IT sector’s weight in the Nifty 50 has slipped to a 16-year low of 11.66 per cent, down sharply from 13.53 per cent at the end of December 2024 and 12.48 per cent at the end of March 2024.
