The Nifty IT index is down 10 per cent over the past month, while the broader Nifty index is flat, amid fears that AI advances could disrupt Indian IT services, among other factors.
At close, Sensex ended with a loss of 367 points, or 0.43 per cent, at 85,041.45, while the Nifty 50 settled at 26,042.30, down 100 points, or 0.38 per cent. Among the sectors, losses were recorded in financials, IT, and select pharma names. Tech stocks were among the top laggards, with the
The Indian IT sector is poised for strong earnings growth in the coming years, with a projected double-digit Earnings Per Share (EPS) Compound Annual Growth Rate (CAGR) of 17.5 per cent from FY24 to FY27, according to a recent industry analysis report by Nirmal Bang Equities.
Key indices BSE Sensex went up 600 points and settled at 61,032.26 while NSE Nifty surged 157 points to 17,928.10. According to NSE data, The Nifty IT index rose 0.99 per cent to 30,588.75. The index had fallen 2.26 per cent in the past two sessions.