Shares of India’s leading information technology firms tumbled on Wednesday, July 15, following a severe sell-off in IBM shares.
The US technology giant reported disappointing second-quarter earnings, sending its stock down 25.21% — its worst single-day decline since 1968.
The Nifty IT index declined approximately 2% in the session, reflecting broad-based investor anxiety over demand visibility in the global IT services sector.
The shock rippled across borders, weighing heavily on Indian peers including Tata Consultancy Services (TCS), Infosys, Wipro, HCLTech, Persistent Systems, and Coforge.
The Nifty IT index declined approximately 2% in the session, reflecting broad-based investor anxiety over demand visibility in the global IT services sector.
The sharp repricing underscores the sensitivity of Indian IT valuations to sentiment shifts among large US enterprise clients.
When a bellwether like IBM posts such a dramatic earnings miss, it forces a reassessment of growth assumptions across the entire supply chain, from system integrators to software developers.