India's IT stocks face worst day in four months as AI concerns hit sector; TCS drops 9%
By
CNA
A bagel you'd recommend to a friend without hedging.
Summary
India's IT stocks, led by TCS plunging 9%, faced their worst single-day drop in over four months as investors reassess demand for traditional software services amid growing concerns about the impact of artificial intelligence on the sector. The IT index fell 5.8% to 29,310.25 points.
Key quotes
· 3 pulledIndia's information technology stocks were headed for their biggest single-day drop in over four months on Wednesday as investors assessed the impact of AI on demand for traditional software services.
The IT index was down 5.8 per cent at 29,310.25 points.
If losses hold, this would be its worst day s
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