Indian IT stocks head for fifth straight week of losses, longest such run in 6 months

Oracle Financial Services Software

20/02/2026 08:25

** Indian IT stocks .NIFTYIT drop for a fifth-consecutive week, set for their longest losing run since August 2025

** Nifty IT .NIFTYIT index is down about 1.8% this week as AI fears persist

** IT stocks had risen briefly when Infosys INFY.NS announced a collaboration with AI firm Anthropic

** Analysts maintain AI would be more friend than foe, with fears largely overblown; IT index rose in two of five sessions this week

** Persistent Systems PERS.NS leads weekly losses with a 5.7% drop, Oracle Financial Services Software ORCL.NS, the lone gainer, climbs 0.7%

** Six stocks in 10-member IT index rated "buy," rest "hold" - data compiled by LSEG

** So far this month, IT stocks have shed 4.71 trillion Indian rupees ($51.78 billion) in market value

($1 = 90.9700 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru)

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