At around 1.08 pm, Nifty IT was trading at 21,828.15 down 236.15 points or 1.07%. The index has touched an intraday low of 21,763.80.
On the index, L&T Infotech was the top loser, trading at Rs3,148.15 per piece down Rs187.80 or 5.63%. While HCL Tech slumped by nearly 2% and was trading at Rs827.05 per piece.
Infosys, Tech Mahindra and Mindtree plunged by over 1% each.
Wipro also tumbled by nearly 1%. While TCS and Mphasis saw a marginal drop.
Currently, Sensex is trading at 44,439.78 down 83.24 points or 0.19%. Nifty 50 performs at 13,022.15 lower by 33 points or 0.25%.
So far today, Sensex has clocked an all-time high of 13,145.85 and Nifty a record high of 13,145.85.