New Delhi, March 17 (IANS) IT stocks came under selling pressure on Tuesday, emerging as the top dragger among sectoral indices amid rising concerns over the impact of generative artificial intelligence on traditional revenue streams.The Nifty IT index declined as much as 2.59 per cent to 28,288, hitting an intra-day low, with all constituents of the index falling by up to around 7 per cent.Meanwhile, the Nifty traded with high volatility, while weakness was also seen in PSU Bank and FMCG indice…
Latest Nifty IT index News & Updates
Mumbai, March 9 (IANS) Indian stock markets ended sharply lower on Monday as rising geopolitical tensions linked to the ongoing US-Iran war weighed on investor sentiment.Although the indices recovered partially from the day’s lows after crude oil prices eased.The Nifty settled at 24,028.05, down 422.40 points or 1.73 per cent. The index also officially entered the technical correction zone after falling more than 10 per cent from its record high of 26,373, which it had touched on January 5.The…
New Delhi, Feb 25 (IANS) Tata Consultancy Services on Wednesday asked its employees to actively use artificial intelligence tools to deliver work faster and at lower cost, even if it impacts the company’s short-term revenue.Speaking at the Nasscom Technology and Leadership Forum in Mumbai, TCS CEO K Krithivasan said the company is encouraging associates to inform clients if tasks can be done quicker and cheaper using AI, even if that leads to revenue cannibalisation.He said employees should ad…
Mumbai, Feb 24 (IANS) India’s benchmark equity indices recorded their worst session in four days on Tuesday, dragged down by heavy selling in banking, infrastructure and IT stocks amid fresh concerns over US trade policy.The 50-share Nifty ended 1.12 per cent, or 288.35 points, lower at 25,424.65. The Sensex closed 1.28 per cent, or 1,068.74 points, down at 82,225.92.Commenting on Nifty technical outlook, an analyst said that the 25,500–25,600 zone remains a crucial resistance band; a decisi…
Mumbai, Feb 13 (IANS) The Indian equity markets ended deep in red on Friday, extending losses for the second consecutive trading session.At the closing bell, Sensex lost 1,048 points, or 1.25 per cent to settle at 82,626. The Nifty shed 336 points, or 1.30 per cent, to close at 25,471.The sharp decline was largely driven by intensifying global concerns over AI-led disruption to India’s outsourcing model.The broader markets performed in line with benchmark indices, as Nifty Midcap 100 index dip…
New Delhi, Feb 12 (IANS) The technology sector saw heightened panic selling on Thursday, sending the Nifty IT index down 5.51 per cent to a four‑month low as investors were spooked over AI‑led disruption and weaker hopes for near‑term US interest‑rate cuts.The combined market capitalisation of Nifty IT constituents collapsed to Rs 27,32,579 crore down roughly Rs 1.6 lakh crore.Shares of major software exporters tumbled over 5.5 per cent each, with Tata Consultancy Services falling 5.48 p…
Mumbai, Jan 14 (IANS) Indian stock markets ended lower on Wednesday after a highly volatile trading session, as losses in IT and realty stocks weighed on investor sentiment. Rising geopolitical tensions and uncertainty surrounding the US-India trade deal also capped any meaningful recovery during the day.The Sensex slipped 0.29 per cent, or 244.98 points, to close at 83,382.71, while the Nifty ended 0.26 per cent, or 66.70 points, lower at 25,665.60.“From a derivatives perspective, Nifty optio…
Mumbai, Dec 30 (IANS) Indian benchmark indices ended Tuesday’s session almost flat, but with a slight negative tone, as gains in PSU banks, metal and auto stocks were offset by selling pressure in IT, FMCG, realty and pharma shares.The Sensex closed at 84,675.08, slipping 20.46 points or 0.02 per cent, while the Nifty settled marginally lower at 25,938.85, down 3.25 points or 0.01 per cent.“The Nifty has also slipped below the 21 EMA, reinforcing the short-term downtrend. Immediate support i…
Mumbai, Dec 26 (IANS) Indian stock markets ended lower on Thursday as investors stayed cautious during the holiday-shortened week and refrained from taking fresh positions due to the absence of strong triggers. Selling pressure in information technology and automobile stocks, along with the expiry of Sensex derivatives, weighed on overall market sentiment.The Sensex closed at 85,041.45, slipping 367.25 points or 0.43 per cent. The Nifty also ended in the red, falling 99.80 points or 0.38 per cen…