Individually, Mphasis shares were up 3.15 per cent, followed by Infosys, Tech Mahindra, Persistent Systems, HCLTech, Oracle Financial Services Software, and LTIMindtree up over 2 per cent.
A total of 100 stocks from the Nifty 500 index registered new 52-week lows on Monday as selling intensified amid escalating geopolitical tensions.
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Indian IT firms derive a major portion of revenue from the US market, making them sensitive to changes in interest rate expectations and inflation trends
Analysts see the sharp correction in stock prices and dislocation in parts of the market as an opportunity for investors to review their portfolios and make appropriate changes.
Concerns over rising inflation stemming from potential energy supply disruptions and rationing prompted investors to book profits, while FII outflows added to the market pressure, said Geojit.
Markets in free-fall: The Sensex has declined over 1 per cent in the last seven out of nine trading sessions; dragging 55 out of BSE 500 stocks to new 52-week lows on Thursday.
Muthuselvaraj M, Research Analyst at Mirae Asset ShareKhan highlights that TCS and HUL have broken down from a triangle pattern, while Ashok Leyland may have formed a double top on the weekly chart.
TCS loses over $100 billion in market value from its 2022 peak as AI uncertainty and IT sector correction trigger a sharp valuation reset
Thus far in the calendar year 2026, TCS's market price plunged 23 per cent, as against 7.4 per cent decline in Nifty 50, data shows. The NIfty IT index lost over 1 per cent in trade on Tuesday.
Ambuja Cements, DLF, Dixon, Gail, Indian Hotels, Shree Cement, REC, Tata Motors PV, Wipro, Suzlon, Coforge, and Info Edge, among the BSE 100 index, also hit their respective 52-week lows amid Iran war
"We are having discussions with multiple other hyperscalers," said Chief Executive Officer K Krithivasan during an interview at the company's offices in London.
IT stocks outperformed the market on Wednesday as rupee breached the 92 per dollar-mark. Shares of Infosys, TCS, HCL Tech gained amid the market crash
Earlier this week, Jefferies downgraded Indian IT companies Infosys, HCLTech and MphasiS to 'hold'; LTIMindtree, TCS and Hexaware to 'underperform'.
TCS CEO K Krithivasan says associates should adopt AI proactively and offer AI-first solutions to clients, even if it cannibalises existing revenue streams
Individually, HCLTech shares were up 3.57 per cent; Infosys, Tech Mahindra, TCS, and Wipro were trading over 2 per cent higher
The IT index decline gathered pace after it broke down from a Head and Shoulders pattern on the weekly chart - a classic signal of a structural trend reversal, explains Sachin Gupta of Choice Broking.
The Nifty IT index has lost over 19 per cent in CY26 as compared to a nearly 2 per cent dip in the Nifty 50 index during this period
According to the shareholding pattern of top Indian IT companies, FIIs have trimmed their stake over the last one year amid growing fear that AI is causing significant disruption