IT shares extend fall; TCS, Wipro, Infy hit 52-week lows on growth concerns

In the past two weeks, the Nifty IT index has tanked 10 per cent, as against a 5 per cent decline in the Nifty 50.

Shares of Information Technology (IT) companies continued to reel under selling pressure with frontline stocks hitting 52-week lows on the BSE in Monday’s intra-day trade amid growth concerns. Tata Consultancy Services (TCS), Infosys, Wipro and Mphasis hit their respective 52-week lows on the National Stock Exchange (NSE) today.

At 10:01 am, the Nifty IT index was down 0.98 per cent, as compared to 1.65 per cent decline in the Nifty 50. The IT index hit a 52-week low of 26,186.70, falling below its previous low of 26,189.40 touched on July 15, 2022. In the past two weeks, Nifty IT