IT Giants Take a Hit

India's leading IT companies have witnessed a sharp erosion in market value amid concerns over the impact of generative AI on traditional IT services and weak global demand. According to reports, the combined market capitalisation of the country's top 10 IT firms has fallen by nearly ₹19.28 lakh crore from their respective peak valuations, reflecting growing investor caution toward the sector.

Tata Consultancy Services has recorded the biggest decline, losing nearly ₹9 lakh crore in market value from its peak. Shares of Infosys, Wipro, LTIMindtree, HCLTech, Persistent Systems, Mphasis and Tech Mahindra have also declined significantly from their all-time highs. Similar trends have been observed among major US technology companies.