Nifty IT Index Declines Over 2.7% Amid Global Tech Weakness and Demand Concerns
The Nifty IT index fell over 2.7% on June 30, closing near 26,299 amid global technology sector weakness and demand concerns from overseas markets. Major IT firms like LTIMindtree, Infosys, and TCS led the decline, with losses exceeding 2%. Analysts noted the index is nearing a critical support level around 26,189, its lowest in nearly four years, which could determine its near-term direction. The sector has underperformed the broader market over the past year, prompting cautious outlooks from experts.