Nifty IT index drops 2.4% on AI worries, global slump
Business
The Nifty IT index took a hit, dropping 2.4% to 27,595 on Thursday and landing as the day's worst-performing sector.
Fresh worries about how AI might affect IT companies' growth, along with weak global tech stocks, drove the decline.
Meanwhile, the main Nifty 50 index slipped just 0.5% to 23,099.
HCL Technologies, Infosys among Nifty losers
Major IT players saw their shares slide too: HCL Technologies fell by 3.5%, Infosys dropped 2.5%, and Tech Mahindra, Wipro, and TCS lost between 1.4% and 2%.
Five top IT firms ended up among the biggest losers on Nifty today, showing just how much AI concerns and global trends shook India's tech scene.