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Indian IT stocks under pressure as global tech sentiment weakens
Indian IT stocks slipped amid weaker global tech sentiment and fading hopes for US rate cuts, with near-term pressures from currency and budget risks despite strong long-term fundamentals.
Major Indian IT firms such as Infosys and Tech Mahindra saw share-price declines as the global tech sector pulled back in response to fading expectations of US rate cuts. The Nifty IT Index dropped around 2%, with investors citing weakening macro support and rising regulatory scrutiny in key export markets.
This sector may face short-term headwinds as currency pressures and client-budget delays persist, though long-term digital transformation tailwinds remain intact.