Top five Indian IT services stocks plunge amid bloodbath in markets today
Feb 23, 2021
Credit: BCCL
Indian markets dropped by over 2 percent marking the fifth day of massive sell offs
Among the heavyweights like RIL and HDFC were IT services bigwigs TCS and Infosys.
Sensex plunged 1,145 points and Nifty dropped below 14,700
Volatility in markets zoomed to 15 percent, which is the highest it has been since last year.
Indian IT service stocks were among the top losers as Nifty IT saw a fall of 2.89 percent
The only other sectoral index to see a bigger loss was Nifty Media, which fell by 3.42 percent.
Tech Mahindra
It was the worst underperformer, among IT services stocks, plunging 4.68 percent.
Credit: IANS
Tata Consultancy Services
India’s largest IT services company was the second-worst hit, dipping by 3.79 percent.
Credit: IANS
HCL Technologies
The Noida-headquartered firm saw its stock prices fall by 3.32 percent.
Credit: IANS
Wipro
Its shares fell by 2.80 percent, and were trading at ₹918.60 a piece as markets closed.
Credit: IANS
Infosys
The market runner up lost the least in today’s plunge with its stock price down just over 2 percent.
Credit: IANS
Mid-cap stocks were also hit
MindTree took a massive hit of 4.81 percent and Coforge’s share price was down 3.74 percent.
Swiss investment banking firm UBS took a cautious stand on IT companies
It maintained a ‘neutral’ rating for Infosys and TCS, while upgrading Wipro and downgrading HCL Tech.
Credit: Insider