Indian IT stocks on track to log 4th straight weekly loss on demand, rate concerns

Coforge

25/09/2026 08:07

** IT stocks .NIFTYIT down 2.5% weekly so far, on track to log fourth consecutive decline
** For the week, Infosys INFY.NS down 4.8%, Wipro WIPR.NS down 2.2%, TCS TCS.NS down 0.9% and Coforge COFO.NS down 3.1%
** Sector pressured after Fed hiked rates last week, its first increase in over 3 years, and signalled at least one more hike this year
** Analysts say weak macro conditions, higher rates and inflation continue to weigh on IT clients' discretionary spending
     ** CLSA, Goldman Sachs flag subdued near-term demand, challenging FY27 outlook
** Both say near-term sector catalysts are scarce and global capability centres keep gaining share
** YTD, INFY, WIPR down 38%, TCS 34% decline, COFO up 7.3% as NIFTY IT Index falls 25.7%

(Reporting by Abhinav Parmar in Bengaluru)
((Abhinav.Parmar@thomsonreuters.com;))