IT stocks have declined up to 9% on Wednesday, June 3, after witnessing a strong upmove over the two trade sessions. The Nifty IT index is down nearly 6%, with all 10 stocks trading with losses. Cumulatively, the stocks on the Nifty IT have wiped out over ₹1.5 lakh crore in investor wealth, with TCS contributing to more than half of that fall. Five out of the 10 Nifty IT constituents, TCS, LTM, Coforge, Persistent Systems and Tech Mahindra, are trading more than 5% down.
