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Infosys and Wipro shares sink to 6-year lows amid IT sell-off
Infosys briefly fell back below ₹1,000 to about ₹980, while Wipro slid to ₹156, extending September losses for both stocks.
Shares of Infosys and Wipro, two of India’s largest IT services firms, were under sustained selling pressure in Tuesday trading, with prices hitting multi year lows amid a broader downturn in domestic IT stocks, according to LiveMint Markets.
During the intraday session, Infosys shares breached the ₹1,000 level again and fell to about ₹980 before a mild recovery to close near those levels. The stock was last seen around that range in October 2020.
Wipro fell to its lowest level in six years after declining a further 3% during the session, dropping to ₹156 per share. LiveMint Markets also noted that Tuesday’s losses widened Infosys and Wipro’s September declines to 15%.
The outlet said the sell-off has spread beyond the two companies, with weakness described as sector wide and driven by deteriorating investor sentiment toward tech stocks, alongside concerns about AI disruption and weak earnings growth.