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TCS, Wipro to Infosys: IT stocks bleed on AI and tech stocks selloff in global markets; Nifty IT dips 2%
The Nifty IT Index decreased by 2% on June 8, primarily due to significant losses in major stocks, particularly Wipro. Conversely, Tech Mahindra and a few others showed gains, helping to soften the index's drop.
TCS shares slip 2%, down 12% in 4 straight sessions. What’s triggering the decline?
TCS shares tumbled 2% Monday, extending a four-day loss to 12%, as rising U.S. bond yields fueled fears of further Federal Reserve rate hikes. This downturn, coupled with AI disruption concerns, has pushed the stock down over 32% this year. Experts advise caution, citing weakening momentum and a bearish trend, suggesting rallies may face selling pressure.
Nifty IT index tanks 9% in 4 days; Wipro, TCS down up to 6%; here's why - Business Standard
Nifty IT index tanks 9% in 4 days; Wipro, TCS down up to 6%; here's whyBusiness Standard
Sensex Today Tanks 617 Points | Nifty Below 23,200 | TCS & Tata Steel Top Losers - Equitymaster
Sensex Today Tanks 617 Points | Nifty Below 23,200 | TCS & Tata Steel Top LosersEquitymaster
Sensex Today Tanks 617 Points | Nifty Below 23,200 | TCS & Tata Steel Top Losers - Equitymaster
Sensex Today Tanks 617 Points | Nifty Below 23,200 | TCS & Tata Steel Top LosersEquitymaster
Reliance, TCS to HDFC Bank: 7 of top-10 most valued firms see market cap erosion by ₹1.25 lakh crore - Mint
Reliance, TCS to HDFC Bank: 7 of top-10 most valued firms see market cap erosion by ₹1.25 lakh croreMint
7 most valued firms' mcap eroded ₹1.25 trn last week, RIL took biggest hit
The combined market valuation of seven of the top-10 most-valued firms eroded by Rs 1.25 lakh crore last week, with Reliance Industries taking the biggest hit, in-line with a bearish trend in equities. Last week, the BSE benchmark Sensex declined 532.4 points, or 0.71 per cent, and the NSE Nifty dipped 181.05 points, or 0.76 per cent. "Persistent FII selling remained the key drag on market sentiment despite supportive developments such as cooling crude oil prices and a recovery in the rupee against the US dollar. Concerns regarding the pace of monsoon advancement also weighed on investor confidence," Santosh Meena, Head of Research at Swastika Investmart Ltd, said. From the top-10 pack, Reliance Industries, Bharti Airtel, Tata Consultancy Services (TCS), Bajaj Finance, Larsen & Toubro, Life Insurance Corporation of India (LIC) and Hindustan Unilever faced erosion from their valuation, while HDFC Bank, ICICI Bank, and State Bank of India were the gainers. The market valuation of ...
F&O Talk: Nifty may consolidate further; Sudeep Shah's strategy on TCS, HDFC Bank, Infosys
Indian stock markets, Sensex and Nifty, closed lower following the RBI's hawkish stance, despite falling oil prices. Analyst Sudeep Shah anticipates a consolidation phase for Nifty, with key support at 23,100-23,050 and resistance at 23,550-23,600. Bank Nifty shows resilience, while IT stocks underperform.
Buy, Sell Or Hold: Suzlon Energy, TCS, Blue Star, Zen Tech, Kwality Walls — Ask Profit
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TCS Share Price Extends Fall After Hitting Over Six-year Low As IT Stocks Decline; Tech Mahindra Defies Rout
Shares of Tata Consultancy Services Ltd. extended declines for the second consecutive trading session, hitting its lowest levels since February 2020.
Indian IT stocks show some resilience despite overnight selling in Infosys, Wipro
TCS was the top loser on the Nifty IT as well as the Nifty 50 index on Wednesday, with its 8.5% drop turning out to be the highest since March 2020. The stock also gave up all the gains that it made across Monday and Tuesday's sessions.
Closing Bell: Sensex Falls 304 Points, Nifty 50 Ends Below 23,500; TCS Slumps 8.39% as Nifty IT Crashes 5.57% - Dalal Street Investment Journal
Closing Bell: Sensex Falls 304 Points, Nifty 50 Ends Below 23,500; TCS Slumps 8.39% as Nifty IT Crashes 5.57%Dalal Street Investment Journal