The Nifty IT currently quotes around 20 per cent below its 200-DMA. TCS, Infosys, Wipro and HCL Technologies are down in the range of 21-26 per cent form respective 200-DMAs.
In the past 20 trading days, the Nifty IT index tanked 17 per cent, as against a 2.2 per cent rise in the Nifty 50 till Wednesday.
Analysts expect another subdued quarter for IT services companies as macroeconomic uncertainty, delayed deal conversions and AI-led pricing pressures weigh on growth and margins
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.
Stocks to Watch today, June 19, 2026: Bharat Forge, Tata Motors, Jubilant Pharmova, Amber Enterprises and Mahindra Lifespace Developers are among the top stocks to remain in focus today
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.
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The new centre will focus on accelerating enterprise AI adoption, building specialised talent and developing AI-native platforms and industry solutions across sectors
Wipro's near-term revenue trajectory remains challenged with Q1FY27 guidance of -2 per cent to 0 per cent CC QoQ, amid multiple headwinds, say analysts at Mirae Asset Sharekhan.
According to the company's regulatory filing, Wipro's board has approved the repurchase of up to 60 crore fully paid-up equity shares with a face value of ₹2 each.
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.
According to data compiled by Bloomberg, 1.74 million shares were traded in multiple blocks on buyback record date
The decline in Srini Pallia's compensation was primarily due to lower variable pay, as IT firms continue to navigate a challenging demand environment
IT stocks witnessed heavy selling pressure on Wednesday tracking overnight losses in technology shares in the US market. Indian ADRs cracked up to 8%.
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The additional investment in the insurance technology firm is expected to strengthen Wipro's AI- and IP-led transformation capabilities in the property and casualty segment
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
The buying on the counter came after Wipro announced an expanded partnership with ServiceNow to implement and scale agentic artificial intelligence (AI) workflows across core enterprise function
Today's sharp outperformance in the IT sector was driven by overnight rally in tech stocks on the Wall Street and company-speciific developments back home.