Indian IT stocks lose ₹3 lakh crore in 2 days
Indian IT stocks had a rough Friday—Nifty IT dropped about 5%, capping a 10% slide in just two days.
Big names like Infosys, TCS, and Wipro all took hits, wiping out nearly ₹3 lakh crore in market capitalisation.
Broader impact on market
If you invest or follow markets, this is a big deal: the tech slump dragged down the broader Nifty index too, making portfolios shakier.
It also reflects investor worries about AI-led disruption, increased competition and sensitivity of Indian IT to US tech spending, raising concerns about near-term demand for services.
Global factors at play
A stronger-than-expected US jobs report killed hopes of an early Fed rate cut, sparking a global tech sell-off.
On top of that, worries about AI replacing traditional coding and back-office roles are fueling uncertainty for India's IT giants.