India's IT stocks fall for fourth straight session
08/06/2026 05:47
BUZZ-India's IT stocks fall for fourth straight session ** India's Nifty IT index .NIFTYIT falls 1.5%, set to decline for fourth straight session
** All constituents of the sectoral index in red
** AI-powered market rally comes to a halt globally; South Korea's Kospi .KS11 and Japan's Nikkei .N225 slide 5% and 4%, respectively, with AI-linked stocks tumbling
** In addition, a surprisingly strong May jobs report in the U.S. has heightened expectations of a Federal Reserve rate hike by 2026-end
** Wipro WIPR.NS and Tata Consultancy Services TCS.NS among top losers, down 5.5% and 1.8%, respectively
** YTD, NIFTYIT down ~25% vs ~11% fall in NIFTY 50 index .NSEI
(Reporting by Vijay Malkar)
Recent news on Wipro
See all newsJefferies sees re-rating potential for select IT stocks; sub-index jumps 2%
India's battered IT stocks head for best week in 18 years on earnings boost
IT stocks continue to power Indian shares higher; Nifty eyes best week in six months
India's Wipro gains after quarterly revenue beat offsets concerns over weak deal wins (updated)
India's Wipro gains after revenue beat offsets concerns over weak deal wins