IT shares such as Wipro (3%), Infosys (3%), TCS (2.70%), Tech Mahindra (2%) and HCL Technologies (2.53%), Birlasoft (2.49%) were the major losers in early deals today.
IT shares were among the top Sensex gainers with Infosys, TCS ,HCL Tech and Tech Mahindra rising up to 2% on the 30-stock index. Â
Sentiments were also negative ahead of US Fed's Federal Open Market Committee (FOMC) set to announce its policy rates today.
IT stocks such as LTIMindtree  Ltd (23%), TCS (14%), Infosys Ltd (12.74%), HCL Technologies (14.42%), Wipro (12%), Tech Mahindra (14.45%), Mphasis (20.72%) and Coforge (15.42%) have fallen since Trump announced first round of tariffs on January 20.Â
Uncertainty over US trade policy prompted investors to press 'sell' button on domestic market today amid fears that reciprocal tariffs on Indian exports starting April, could impact multiple sectors.
Infosys fell 3 per cent to Rs 1,651.70. CLSA upgraded this stock  to 'Outperform' and pegged its target price at Rs 1,978.  TCS, Wipro and Tech Mahindra declined up to 2 per cent. HCL Technologies was flat.Â
IT stocks crash: Nifty IT index slipped 3.78% and BSE IT index lost 11.50% in the last 1.5 months, signaling gloomy sentiment over the fate of IT investors.Â
Market watchers said demand for IT services from the US was likely to be affected, which dented sentiment around Indian IT stocks.Â
Stock market recovery: In the current session, Sensex rose 740 pts to 73,730 and Nifty gained 254 pts to 22,337.
Sensex stood at 73,392.10, up 402.17 points or 0.55 per cent. Nifty climbed 83 points or 0.38 per cent to 22,165.65. HCL Tech, Tech Mahindra and Mahindra & Mahindra jumped 2-3 per cent and led the Sensex gainers.
Investor wealth declined by Rs 8.82 lakh crore to Rs 384.28 lakh crore today compared with a valuation of Rs 393.10 lakh crore recorded in the previous session.
Copyright©2025 Living Media India Limited. For reprint rights: Syndications Today