Major information technology stocks on Dalal Street were under pressure again on Tuesday morning, with Infosys, TCS and HCLTech among the biggest losers in early trade.
By around 9:35 am, most IT stocks were deep in the red, pulling the Nifty IT index down more than 3% and weighing on the Sensex and Nifty as well.
The sector has been under pressure for most of this month because of fear that artificial intelligence (AI) could reduce the need for some of the routine work Indian IT companies do for global clients.
There was a period of slight recovery in between, but yesterday’s global developments have triggered a fresh wave of selling and pushed the stocks lower again.
GLOBAL TARIFF UNCERTAINTY
The first trigger is global uncertainty.
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