Mindtree shed over 6% while L&T Tech Services, Coforge was down over 3%. LTI, Mphasis, Tech Mahindra, HCL Tech, TCS also nosedived between 2-3%. Index heavyweight Infosys and Wipro further traded lower to weigh down on the sectoral index.
At around 10:45 AM, the Nifty IT was trading at 36,124.85 down 721.95 points or 1.96%, after touching a high of 36,988.90 and low of 36,089.10 during intraday trade.
Mindtree tumbles 6.06% at Rs4,481 per piece to drag the sector after Western Asset selects Mindtree as a strategic partner to drive enterprise innovation and transform IT services. LTTS was 3.90% down at Rs4,759.90 per piece.
Coforge was down 2.90% on the downside at Rs5,651.85 per piece. L&T Infotech shed over 2% at Rs6785 per piece.
Mphasis and Tech Mahindra dragged the sector further by declining 2.19% and 2.18% respectively while HCL Tech and TCS were nearly 1.5% down. Infosys and Wipro were also 0.92% and 0.75% respectively lower as the IT Index had all the 10 declines on the NSE.
Furthermore, Tech Mahindra stocks in focus as it will announce its earnings on October 25.