Shares of Indian IT companies including TCS, Infosys, Wipro, HCLTech, Tech Mahindra, Persistent Systems, and Coforge declined up to 2.5% after their US peer IBM posted its steepest single-day decline on record, plunging 25% following a weaker-than-expected preliminary quarterly update.
TCS, India's largest IT services company, fell 2.5% to Rs 2,144, while Wipro declined over 1% to Rs 177. Infosys slipped nearly 2% to Rs. 1,075, HCLTech dropped 2% to Rs 1,144, and Tech Mahindra lost more than 2% to Rs 1,452. Among midcap IT stocks, Persistent Systems and Coforge also declined by up to 2% in Wednesday's trade.
