India's IT index set for worst week in 4 months, biggest weekly loser among sub-indices

Wipro

11/09/2026 09:05

Sept 11 (Reuters) - ** India's IT index .NIFTYIT declines 5.5% in the week, on track for steepest weekly fall in 4 months
** Also logs the biggest weekly loss among major sub-indices


** Recent retreat in IT valuations reflects slowing global growth, high interest rates and rapid adoption of generative AI, which is automating routine coding, and squeezing traditional effort-based billing models, says Vinit Bolinjkar, head of research at Ventura
** Bolinjkar expects near-term sentiment to remain cautious as clients focus on cost optimisation, but sees long-term growth supported by enterprise AI, cloud infrastructure modernisation and cybersecurity services
** Infosys INFY.NS declined the most, down 8% during week
** Tech MahindraTEML.NS, TCSTCS.NS, WiproWIPR.NS, HCL TechHCLT.NS lose between 3.5-5.9%
** YTD, NIFTYIT down 23.4% vs 10.7% decline in benchmark Nifty 50 index
** NIFTYIT up 0.5% on Friday

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com;))