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IT Stocks Today, February 24: HCL Tech is the biggest loser on the BSE Sensex with its shares declining by 3.02 per cent, followed by Tech Mahindra (down 2.06 per cent), Infosys (down 2.03 per cent), and TCS (down 1.89 per cent).
Among the 30 Sensex shares, the top four losers were IT sector companies — TCS, HCL Tech, Infosys, and Tech Mahindra.
Even as the Indian stock market is witnessing a significant selloff on Monday, the IT sector is particularly hit. HCL Tech is the biggest loser on the BSE Sensex with its shares declining by 3.02 per cent, followed by Tech Mahindra (down 2.06 per cent), Infosys (down 2.03 per cent), and TCS (down 1.89 per cent).
Among the 30 Sensex shares, the top four losers were IT sector companies.
Shares of HCL Tech were trading at around Rs 1,660 apiece, Tech Mahindra’s stock was down by Rs 1,625, Infosys was lower at Rs 1,770, and TCS at Rs 3,725.
Why Are IT Stocks Down Today?
The IT sector was the worst-performing segment in the stock market on Monday as the US market witnessed a sharp dent due to inflation concerns amid Trump tariffs.
US markets had ended significantly lower on Friday. The consumer sentiment in the US hit a 15-month low as inflation in America is expected to rise due to additional tariff measures.
The data points to a stagflation situation in the US, which is a situation in which the economy faces slowing growth and rising prices.
The US is the world’s largest economy and its troubling sign is a worry for India’s export-driven sectors, particularly IT.
US markets tumbled on Friday, extending their selloff in the wake of dour economic reports and closing the book on a holiday-shortened week fraught with new tariff threats and worries of softening consumer demand. The Dow Jones Industrial Average fell 748.63 points, or 1.69%, to 43,428.02, the S&P 500 lost 104.39 points, or 1.71%, to 6,013.13 and the Nasdaq Composite lost 438.36 points, or 2.20%, to 19,524.01.
What’s Next?
According to Bajaj Broking Research, “From February 24 to 28, 2025, Investors will closely monitor the US PCE inflation data, which could shape expectations around the US Fed’s rate cut timeline, impacting global liquidity flows. On the domestic front, the monthly F&O expiry on February 27 may lead to short-term volatility, while key macro indicators like GDP growth data for Q3 FY25 and fiscal deficit numbers will provide insights into economic momentum.”
With global uncertainties and domestic resilience in play, the market is likely to witness uncertainty with opportunities in selective sectors, it added.
