In last two financial years, retail investors increased holding in 118 Nifty 500 stocks where FIIs cut stake; of these 65 stocks trade below March 2024 levels amid tepid market mood, shows data.
The Sensex settled with a cut of 303.67 points, or 0.41 per cent, at 74,346.17. The Nifty50 ended at 23,405.60, down 77.95 points, or 0.33 per cent.
IT stocks witnessed heavy selling pressure on Wednesday tracking overnight losses in technology shares in the US market. Indian ADRs cracked up to 8%.
In the past three sessions, the Nifty IT index has climbed as much as 6 per cent, while the Nifty index has declined 2.50 per cent.
The country's largest IT services company TCS on Wednesday announced that it has bagged a multi-year deal from Swedish bearings maker SKF. The financial details were not shared, but people in the know called it a multi-year, multi-million dollar engagement. The deal, which comes at a time when concerns are being raised about the IT sector story following the advent of AI, involves modernisation of SKF's existing IT landscape. TCS will enable SKF to build a future-ready digital enterprise, leveraging AI to reimagine industrial manufacturing business, a statement said. The Indian IT major will provide end-to-end managed services across applications, infrastructure, data, end-user services, security, and connectivity for SKF across the globe. "Together, we are applying data-driven intelligence and AI to create an agile enterprise that can adapt to technological and market change while supporting long-term sustainable growth and competitiveness," TCS' chief executive and managing dire
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
Shares of LTM, Siyaram Silk Mills, Tata Consumer Products, and Tata Consultancy Services will also remain in focus today as they trade ex-dividend
Among the companies, Bajaj Auto has announced the highest final dividend of ₹150 per share, with May 29, 2026, fixed as the record date
High performers, employees in the top-rated A+ category, have received hikes of more than 10 per cent, the sources added
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.
TCS chief executive officer K Krithivasan's remuneration rose to ₹28.1 crore in FY26, while the company said employee salary increases remained aligned with market trends
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.
Analysts believe OFSS's outperformance is underpinned by relatively sustainable revenue growth, sharp margin expansion, operating leverage, and AI-driven productivity gains
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.
Nifty IT index has fallen nearly 25 per cent year-to-date, compared with an 8.85 per cent decline in the benchmark Nifty50
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
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Individually, Oracle Financial Services Software rallied 4.4 per cent, followed by TCS, Wipro, Persistent Systems, Infosys, Mphasis and LTIMindtree up over 2 per cent