Technology shares remained under pressure on Thursday, extending their losing streak to a fourth consecutive session even as the broader market moved higher, with investors continuing to cut exposure to the sector amid slowing growth expectations, muted client spending and rising concerns around artificial intelligence-led disruption.
The Nifty IT index fell over 2% during the session, sharply underperforming the broader Nifty, which gained 0.8%. The continued selloff has now dragged the Nifty IT index more than 40% below its record peak touched in December 2024, highlighting the extent of the sector-wide correction.
