Nifty IT hits over 3-year low, crashes 30% year-to-date. Is it the right time to buy IT stocks?

The Nifty IT index fell to a 3-year low of 26,208.50 intraday on June 30, 2026, closing down 2.73% at 26,299, making it the worst-performing sectoral index in H1CY26 with a 30% year-to-date decline and a 43% drop from its December 2024 peak of 46,089. Persistent Systems was the only gainer among the 10 constituents, while LTIMindtree, TCS, and Infosys were top losers. Cautious tier-1 guidance, AI-led structural disruption, and subdued client discretionary spending continue to weigh on the sector, though experts suggest quality large-caps like TCS and Infosys remain preferable for selective exposure with attractive entry points potentially another 15-20% lower.