AI jitters crush India’s IT giants: Nifty IT tumbles as TCS, Infosys, HCLTech slide
Indian IT stocks slumped Thursday, with the Nifty IT index dropping about 5% as TCS hit a 52-week low and Infosys, HCL Technologies, and Coforge also fell. Investors cited fears over AI-driven automation and weaker global tech sentiment after strong U.S. jobs data dampened hopes for Federal Reserve rate cuts. The sector has lost 13% since February 4.