Shares of Indian IT majors, including Infosys and TCS, fell up to 5% to hit fresh 52-week lows, emerging as top losers on the Sensex and dragging the Nifty IT index down 4%. The decline came after OpenAI’s launch of the ‘OpenAI Deployment Company’, which rekindled concerns over potential AI-driven disruption in the sector.
The Nifty IT index slumped 4%, becoming the day’s top sectoral loser, even as the Indian rupee hit a fresh lifetime low by breaching 95.50 against the US dollar, and Wall Street rallied to new record highs on the back of a tech-driven surge.
