Nifty IT plunges over 2%; Infosys, LTIMindtree, TCS among top laggards

The Nifty IT index dropped more than 2% on June 30, with major constituents led lower by LTIMindtree (-2.54%), Infosys (-2.33%), TCS (-2.19%), Wipro (-2.07%), and HCLTech (-1.49%); Persistent Systems and Coforge also traded in the red. The sell-off was triggered by global technology weakness, concerns over AI-led disruption, and demand worries from key overseas markets. The index is now approaching a critical long-term support zone around 26,189, its lowest in nearly four years, with analysts flagging institutional caution and a weak technical structure.