India’s IT stocks were headed for their biggest single-day decline in more than four months on Wednesday, as investors weighed the potential impact of artificial intelligence on demand for traditional software services, News.Az reports, citing Reuters.
The IT index was down 5.8% at 29,310.25 points. If losses hold, it would mark the sector’s worst day since February 4.
India’s largest software exporter, Tata Consultancy Services (TCS), led the decline with a 9% drop, while Bengaluru-based Infosys and Wipro fell 4.3% and 3.7%, respectively.
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