Nifty IT Index Falls Over 2% to Near Three-Year Low Amid Sector-Specific Selling

The Nifty IT index fell over 2 percent to near a three-year low amid broad-based selling across major IT stocks like Wipro, Infosys, TCS, and Coforge. This decline extends a six-session losing streak driven by concerns over global demand, foreign institutional investor selling, and potential disruption from generative AI. Despite sector weakness, broader market indices remained relatively stable, supported by gains in financials and autos. Investor caution persists ahead of the US Federal Reserve's upcoming policy decision and amid geopolitical tensions affecting economic outlooks.