Stock Market
AI panic hits IT giants: Infosys, TCS, Wipro lead massive market rout as stocks sink to alarming lows
Mumbai/IBNS: Heavy selling in IT stocks continued for the fifth consecutive day on Tuesday amid fears of disruption from the growing influence of Artificial Intelligence (AI), media reports said.
The Nifty IT index fell 3.5% to a 52-week low of 30,417.75, marking a 19% decline in February—the worst monthly performance for the 10-stock index since the 2008 financial crisis.
Every constituent of the Nifty IT index has dropped over 10% on a year-to-date basis, with six out of ten stocks declining by 20% in just the first two months of 2026.
Coforge shares plunged almost 25% in the first two months, followed closely by Wipro with a 23.5% drop.
Persistent Systems, a top performer in the midcap IT space, also fell 23.5%, echoing its 2011 downturn.
Other IT services companies including Infosys, TCS, HCLTech, Oracle, and Tech Mahindra experienced steep losses.
In the broader market, the BSE Sensex fell 1,100 points after noon, while the NSE Nifty recorded losses of 300 points amid the sell-off.
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