India's IT stocks set for third straight week of losses as demand concerns loom

Mphasis

25/07/2025 08:42

** Indian IT stocks .NIFTYIT drop about 4% this week, among biggest weekly sectoral losers

** Ten-member Nifty IT index set for a third-consecutive week of losses

** Demand concerns continue to weigh on IT stocks in their key U.S. and Europe markets, despite earnings beat

** Index heavyweight Infosys INFY.NS, which reported results on Wednesday, down 4% this week

** Peers Tata Consultance Services TCS.NS and HCLTech HCLT.NS down 1.4% and 3.2%, respectively, this week

** Persistent Systems PERS.NS, Mphasis MBFL.NS and Coforge COFO.NS biggest weekly losers, down 6.6%, 6.8% and 9%, respectively

** Analysts' average ratings on the stocks equally split between "buy" and "hold" - data compiled by LSEG

** IT index down 17.5% this year, making it the biggest sectoral loser, while blue-chip Nifty 50 .NSEI index is up 5.2%

 (Reporting by Nandan Mandayam in Bengaluru)

 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))