Nifty IT Index Falls 1.8% as Global Tech Weakness Weighs on Sentiment

The Nifty IT index declined 1.8% in early trade, reflecting weakness across major IT stocks as global technology markets faced selling pressure. Heavyweights such as Infosys, TCS, Wipro, and HCL Tech registered losses, dragging the sectoral index lower.

The fall comes amid disappointing US tech earnings and concerns over global demand outlook, which directly impacts India’s export-driven IT sector. Additionally, rupee appreciation against the US dollar added pressure on IT companies’ margins, as overseas revenues face conversion headwinds.

Investor sentiment remains cautious ahead of the Reserve Bank of India’s monetary policy announcement, with broader markets also trading subdued. Analysts suggest that while long-term fundamentals of Indian IT remain strong, near-term volatility is likely due to global uncertainties and margin pressures.

Key Highlights

• Nifty IT index down 1.8% in early trade.
• Major losers: Infosys, TCS, Wipro, HCL Tech.
• Global cues weak: US tech earnings disappoint, demand concerns rise.
• Currency impact: Stronger rupee weighs on IT margins.
• Outlook: Volatility expected until RBI policy and global clarity emerge.

Sources: NSE India, Reuters, Business Standard, Mint