Nifty IT falls 11% in September as earnings loom
In short
The Nifty IT index fell 11% in September, and TCS, Infosys and Wipro were among the biggest losers.
The report says high interest rates, global growth worries and AI pressure are weighing on tech spending. Investors are waiting for Q2 earnings, but it is not clear if the sector will recover.
What the reporting says
The Nifty IT index fell 11% in September, with TCS, Infosys and Wipro among the top losers. Mint’s publisher summary said high interest rates, global growth fears and generative AI pressures have hurt technology spending. Investors are now watching Q2 earnings for clues on demand and AI-led changes, but any rebound is still uncertain.
Why it matters
The Nifty IT index fell 11% in September, with TCS, Infosys and Wipro among the top losers. The publisher summary links the drop to high interest rates, global growth fears and generative AI pressures that are affecting technology spending. The next focus is Q2 earnings, which may show demand trends and AI-related changes, but a rebound is not established.