IT Sector

TCS and Wipro have fallen to or near 52-week lows as India’s IT sector faces pressure from global tech selloffs, AI-led disruption fears, weak guidance, and sustained foreign investor selling. The article explains key reasons behind the decline and recent stock performance trends.

Indian benchmark indices ended sharply lower on June 8, 2026, with Nifty closing at 23,123 and Sensex falling 719 points as geopolitical tensions between Iran and Israel, rising crude oil prices, weak global market sentiment, and US rate hike fears triggered a broad-based selloff across sectors.

TCS has won a major multiyear technology transformation deal from Canada Life to modernize data centers, IT infrastructure, and software operations across Europe. The partnership leverages AI-powered operations to improve efficiency, resilience, and scalability while expanding TCS's footprint in the European insurance sector.

The Indian stock market closed slightly lower on June 5, 2026, as investors reacted to the RBI's decision to keep interest rates unchanged while raising inflation projections and lowering GDP growth forecasts. Nifty ended below 23,400, Sensex slipped 117 points, while Bank Nifty outperformed. Adani Enterprises and Bajaj Finance gained, whereas Wipro and Trent declined amid stock-specific developments.

Indian benchmark indices closed nearly unchanged on June 4, 2026, as investors remained cautious ahead of the RBI monetary policy announcement. Easing crude oil prices, strong domestic institutional buying, and gains in Media and Consumer Durables helped support the market, while Titan emerged as a key outperformer on ambitious expansion plans.

Indian benchmark indices ended in the red on June 3, 2026, dragged by a sharp sell-off in IT stocks after recent AI-driven gains. Rising crude oil prices, US-Iran tensions, FII outflows, and caution ahead of the RBI policy meeting weighed on sentiment. However, banking stocks outperformed, helping Bank Nifty close nearly 1% higher.

IT stocks witnessed heavy selling pressure on Wednesday, with the Nifty IT index falling 4.66% as investors booked profits following a strong AI-led rally. Weakness in global technology stocks, ADR declines, and concerns over the pace of AI monetization added to the correction.

Indian benchmark indices rebounded on June 2, 2026, ending a four-session losing streak as a powerful rally in IT stocks lifted market sentiment. Nifty IT surged over 4%, supported by AI-driven growth expectations, positive global technology cues, and strong buying in large-cap tech stocks such as TCS, Infosys, and HCL Technologies. While consumer sectors also advanced, banking and financial stocks remained under pressure amid concerns over rising crude oil prices and inflation risks.

Infosys has partnered with Handelsblatt Media Group to launch Editorial Link Intelligence (ELI), an AI-powered editorial engine built on Infosys Aster. The solution enhances content discovery, improves editorial workflows, and serves as another production-scale proof point of Infosys' growing enterprise AI capabilities.

Coforge has unveiled the Nexa Agentic AI Platform, an AI-driven insurance operations solution designed to help insurers improve efficiency, accelerate product launches, modernize legacy systems, and reduce costs. The launch marks a significant step in Coforge's transformation into an AI-native technology company.