Nifty IT Falls 310 Points Amid Broad-Based Selloff in Tech Stocks
By HDFC SKY | Updated at: Jun 12, 2025 04:55 PM IST
The Nifty IT Index plunged 310 points (-0.8%) to settle at 38,474.25, tracking broad declines across the sector with 9 out of 10 stocks in the red during early trade. The index opened at 38,732.95 and touched a low of 38,465.60.
Index Snapshot
| Metric | Value |
|---|---|
| Previous Close | 38,784.30 |
| Open | 38,732.95 |
| Day High | 38,735.60 |
| Day Low | 38,465.60 |
| Last Price | 38,474.25 |
| Change | -310.05 |
| % Change | -0.80% |
| 52-Week High | 46,088.90 |
| 52-Week Low | 30,918.95 |
| Traded Volume | 2,099,740 |
| Traded Value | ₹324.62 Cr |
The index slipped 310.05 points, or 0.80%, to close at 38,474.25, reflecting a weak trading session. The index remains well below its 52-week high of 46,088.90, signaling a cautious undertone. Traded volume stood at over 20 lakh shares, with a total turnover of ₹324.62 crore, suggesting subdued investor participation
Top Movers in Nifty IT (as of 09:27 IST)
| Stock | Last Price (₹) | Change (₹) | % Change | 52W High | 52W Low |
|---|---|---|---|---|---|
| OFSS | 9,445.00 | +15.50 | +0.16% | 13,220 | 7,038 |
| INFY | 1,606.70 | -24.40 | -1.50% | 2,006.45 | 1,307 |
| TECHM | 1,624.70 | -12.80 | -0.78% | 1,807.70 | 1,209.40 |
| HCLTECH | 1,711.00 | -10.90 | -0.63% | 2,012.20 | 1,302.75 |
| PERSISTENT | 5,932.50 | -33.00 | -0.55% | 6,788.90 | 3,725.50 |
| COFORGE | 1,806.50 | -10.00 | -0.55% | 2,005.36 | 1,032.40 |
| WIPRO | 257.54 | -1.38 | -0.53% | 324.60 | 228.00 |
| MPHASIS | 2,669.60 | -10.30 | -0.38% | 3,237.95 | 2,044.55 |
| TCS | 3,465.00 | -6.90 | -0.20% | 4,592.25 | 3,056.05 |
| LTIM | 5,385.00 | -9.00 | -0.17% | 6,767.95 | 3,802.00 |
The sector witnessed broad-based weakness, with 9 out of 10 stocks trading in the red as of 09:27 IST. Heavyweights such as Infosys led the decline with a 1.5% drop, followed by losses in Tech Mahindra, HCL Technologies, and Persistent Systems. Oracle Financial Services Software (OFSS) stood out as the sole gainer, inching up 0.16%.
Technical Perspective
- Nifty IT is currently 16.52% below its 52-week high and 24.43% above its 52-week low.
- Over the past 30 days, the index is up 1.31%, while its 1-year gain stands at 12.32%, showing resilience despite recent pressure.
Market Context
The broader Nifty 50 traded up 0.12%, indicating that today’s IT sector underperformance is sector-specific rather than market-wide. Investors are likely reacting to valuation concerns and potential margin pressures flagged in recent earnings commentary.
Outlook
Tech stocks are seeing continued profit booking after a strong YTD run-up. Analysts believe the upcoming US Fed rate decision and global macro commentary may influence the near-term direction of export-heavy IT companies.
Nifty IT Performance Overview
The Nifty IT Index has gained 0.86% in the last month, 5.88% year-to-date, and 0.86% in the previous year.
About Nifty IT
The Nifty IT index represents the performance of 10 Indian IT sector companies listed on the NSE, including leaders like Infosys, TCS, and HCL Technologies. It serves as a benchmark for India’s software services and technology export-driven sector.
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