Nifty IT Index Drops Over 1% as Key Tech Stocks Slide

MUMBAI — India’s Nifty IT index fell over 1% on Tuesday, August 18, 2026, extending recent sectoral losses as broad-based selling across top technology constituents dragged equity benchmarks lower.

The Nifty IT index fell 337.40 points, or 1.10%, to touch an intraday low of 30,399.35 points in early morning trade, down from its previous close of 30,807.80. The benchmark index opened at 30,584.10 before succumbing to downward pressure. The decline in information technology heavyweights contributed to broader market weakness, with the BSE Sensex trading down 228 points at 77,500.66.

Market Performance and Tech Stock Breakdown

The pullback across the sector was widespread, with all major constituents of the index trading in the red during morning trading sessions. Technology software and consulting majors faced relentless profit-taking and risk aversion.

Key index constituent movements recorded during early trade include:

• Infosys Ltd (INFY): Down 1.61% (₹18.40) to ₹1,121.50 with heavy volume of 9.49 lakh shares traded.

• Wipro Ltd (WIPRO): Down 1.37% (₹2.50) to ₹179.40.

• Coforge Ltd (COFORGE): Down 1.17% (₹21.20) to ₹1,784.80.

• Mphasis Ltd (MPHASIS): Down 1.04% (₹26.20) to ₹2,483.80.

• Tech Mahindra Ltd (TECHM): Down 1.04% (₹16.70) to ₹1,593.30.

• LTIMindtree Ltd (LTM): Down 0.89% (₹41.60) to ₹4,658.40.

• HCL Technologies Ltd (HCLTECH): Down 0.79% (₹10.50) to ₹1,314.50.

• Tata Consultancy Services Ltd (TCS): Down 0.73% (₹16.90) to ₹2,296.30.

• Oracle Financial Services Software (OFSS): Down 0.23% (₹27.00) to ₹11,762.00.

• Persistent Systems Ltd (PERSISTENT): Down 0.21% (₹11.50) to ₹5,558.50.

Macroeconomic Headwinds and Industry Impact

The recent decline in technology equities reflects lingering volatility across the broader financial markets. Headwinds including elevated crude oil prices, cautious corporate IT spending outlooks in Western markets, and broader Asian market pullbacks have curbed investor appetite for high-valuation growth sectors.

The drop in major IT bellwethers like Infosys and TCS directly impacted benchmark performance, leading the broader stock indices into negative territory for the session.

Official Sources Section

Market data and constituent price movements are provided according to live trading information from the National Stock Exchange of India Ltd. (NSE) and the BSE Limited.

Quote Section

According to market analysts and exchange disclosures:

"The Nifty IT index continues to face corrective bias amid persistent global headwinds and cautious institutional flows across major technology counters."

Why It Matters

Information technology companies form a substantial portion of India's benchmark equity indices and market capitalization. Continued weakness in the sector affects retail portfolios, mutual fund returns, and institutional investor sentiment while signaling cautious discretionary enterprise spending in overseas markets.

Key Facts at a Glance

• Index Name: Nifty IT Index (.NIFTYIT)

• Current Level: 30,470.40 (Down 1.10% / -337.40 points)

• Day Range: 30,399.35 – 30,615.45

• Top Sector Drag: Infosys (-1.61%), Wipro (-1.37%), Coforge (-1.17%)

• BSE Sensex Impact: Down 228 points at 77,500.66

Frequently Asked Questions

Why is the Nifty IT index falling today?

The Nifty IT index is declining due to broad-based selling across major constituent stocks like Infosys, Wipro, and Coforge, driven by weak global cues and cautious spending sentiment in global markets.

Which IT stock fell the most in early trade?

Infosys Ltd led the decline among major IT bellwethers, dropping over 1.6% during early morning trade.

What are the key support levels for the IT sector?

The index touched an intraday low of 30,399.35, remaining well above its 52-week low of 25,699.10 but significantly below its 52-week high of 40,301.40.

Source: National Stock Exchange of India Ltd. | BSE Limited