India's IT index set to top sectoral losers in September as Fed hike, earnings concern weigh

Infosys

30/09/2026 06:33

** Indian IT stocks index .NIFTYIT down 9.5% so far in September as Fed rate hike, AI trade and anticipation of muted Q2 earnings weigh
** Top loser among 16 major sectors; Nifty 50 .NSEI down 5.8% for month  
** Oracle Financial Services ORCL.NS and Tata Consultancy Services TCS.NS down around 13%, biggest losers among 10 constituents
** Infosys INFY.NS and Wipro WIPR.NS down 10.2% and 12.6%
** HCL Tech HCLT.NS, down 5.1%, outperforms peers
** Bellwether TCS set to report results on October 8
** Fed signalled another hike this year, as elevated oil prices raise inflation risks
** "Demand conditions have neither improved nor deteriorated since the June 2026 quarter. Expect another muted quarter for large companies, with HCLT being the notable exception," says Kotak Institutional Equities
** .NIFTYIT up 2.2% on Wednesday, on track to snap 8-day losing streak as bets for Oct Fed rate hike fall
** YTD, subindex down 25.4%, .NSEI down 13.2%

(Reporting by Vivek Kumar M)
((VivekKumar.M@thomsonreuters.com;))