Nifty IT Falls 1.7% on June 8, 2026 and Is Down 8% in 4 Sessions as AI Trade Reverses and Global Tech Selloff Hits Infosys, TCS and Wipro
- June 8, 2026
- Posted by: Ankit Jaiswal
- Category: News
Nifty IT down 1.7% today, down 8% in 4 sessions. Wipro -5.67%, TCS -1.64%, Infosys -0.88%. 52W High 40,301. US AI trade reversal triggers broad selloff.
The Nifty IT index fell 1.7% on June 8, 2026, extending its losing streak to 4 sessions and pushing its total decline to approximately 8% as the global AI trade reversal triggers sustained selling in technology stocks. Major constituents Wipro, TCS and Infosys all fell sharply, with Wipro leading losses down 5.67% to Rs 187.13, dragged by profit-booking after an exceptional rally driven by AI optimism that has now reversed.
The index had surged nearly 7-8% over two sessions on AI enthusiasm and strong US software earnings, but has given back the majority of those gains over the past four trading sessions. Global technology stocks also remain under pressure as investors question the pace at which AI spending translates into actual revenue for IT services companies.
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| Stock | Symbol | CMP | Prev Close | Change | High | Low |
|---|---|---|---|---|---|---|
| TCS | TCS | Rs 2,162.90 | Rs 2,198.90 | -1.64% | Rs 2,172.80 | Rs 2,144.10 |
| Infosys | INFY | Rs 1,186.90 | Rs 1,197.50 | -0.88% | Rs 1,191.00 | Rs 1,176.50 |
| Wipro | WIPRO | Rs 187.13 | Rs 198.37 | -5.67% | Rs 193.89 | Rs 187.01 |
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Why Nifty IT Is Falling Today on June 8, 2026
Global AI Trade Reversal Hits IT Sentiment
The decline is primarily driven by a reversal of the global AI trade that had powered a sharp two-session rally in Indian IT stocks. The rally was fuelled by optimism around AI-driven software spending, strong US mega-cap tech results, and expectations of lower interest rates. However, investors have moved to book profits as uncertainty grows around how quickly AI revenue opportunities will convert for Indian IT services companies. The concern that AI automation may reduce demand for traditional outsourcing has resurfaced as a structural headwind across the sector.
Global Tech Selloff Spills Over to Indian IT
Indian IT stocks have significant ADR linkages to US markets. Wipro ADR had rallied approximately 25% over eight sessions before correcting, and TCS ADR also saw sharp profit-booking. The overnight sell-off in global technology names set a weak tone at the June 8 open, with Wipro down 5.67% to Rs 187.13 and TCS down 1.64%. Infosys ADR corrections have similarly fed through to domestic price action across the index.
Strong US Jobs Data Drives Rate Hike Fears
The US May nonfarm payroll report released on June 5, 2026, showed 172,000 jobs added against the 85,000 forecast. This reinforced the case for the Federal Reserve to keep rates higher for longer, or potentially hike. Higher US rates strengthen the dollar, reduce the appeal of emerging market equities, and push FIIs to reduce positions in Indian technology stocks, amplifying selling pressure on the IT sector.
Nifty IT Index Performance Over the Past Four Sessions
| Session | Movement | Key Driver |
|---|---|---|
| June 3, 2026 | -4.66% | Profit booking after AI rally, Wipro/TCS ADR correction |
| June 4, 2026 | Sharp fall | TCS fell ~9% intraday on continued AI trade reversal |
| June 5, 2026 | Extended losses | Strong US NFP report (172K vs 85K) raises Fed hike bets |
| June 6, 2026 | Partial recovery | Some stabilisation; US-Iran tensions remain in focus |
| June 8, 2026 | -1.7% | Continued selling; Wipro leads losses, down 5.67% |
The index had hit a 52-week high of 40,301.40 before this selloff, and its 52-week low stands at 27,078. It is now nearly 30% below its December 2024 peak and has been one of the worst-performing sectoral indices in the June 2026 market correction, extending a trend of AI-driven rerating that has persisted through 2026.
Wipro, TCS and Infosys: Damage Assessment in the IT Selloff
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Wipro is the biggest laggard on June 8, falling 5.67% to Rs 187.13 against a previous close of Rs 198.37. The stock opened at Rs 193.39 and continued sliding through the session, hitting a low of Rs 187.01. TCS fell 1.64% to Rs 2,162.90, touching a new 52-week low of Rs 2,144.10 in the process, while Infosys declined a more moderate 0.88% to Rs 1,186.90. The broader weakness in the sector reflects how quickly the AI-enthusiasm trade can unwind when global technology sentiment shifts.
Outlook for Nifty IT After the AI Trade Reversal
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The near-term outlook for the sector depends on two key variables: US macro data, particularly the May CPI report due this week, and any policy signals from the Federal Reserve. A softer-than-expected inflation reading could stabilise the index by reducing rate hike bets. For a sustained recovery, the Nifty IT index needs evidence that AI is adding to IT companies’ revenue rather than cannibalising existing demand. Q1 FY27 earnings guidance from TCS, Infosys and Wipro will be the critical longer-term data point for investors tracking this space.
Conclusion
The Nifty IT index is down 1.7% on June 8, 2026 and has declined approximately 8% over 4 sessions as the global AI trade reversal removes the premium built into valuations. Wipro leads the carnage with a 5.67% fall, while TCS hit a new 52-week low. The combination of profit-booking, strong US jobs data, and structural concerns about AI displacing outsourcing demand creates a challenging backdrop for the sector in the near term. Investors should monitor Q1 FY27 management commentary before taking fresh positions. This is not investment advice.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions on Nifty IT Falls Today
Why is Nifty IT falling today on June 8, 2026?
Ans. Nifty IT is falling 1.7% on June 8, 2026, as the global AI trade reverses and investors book profits after a sharp two-session rally driven by AI optimism. Wipro has led losses at -5.67%, followed by TCS at -1.64% and Infosys at -0.88%. Strong US jobs data has also raised Federal Reserve rate hike expectations, reducing FII appetite for Indian technology stocks.
How much has Nifty IT fallen in 4 sessions?
Ans. The index has fallen approximately 8% over 4 sessions (June 3, 4, 5, and 8, 2026). It reached a 52-week high of 40,301.40 before this correction cycle and has a 52-week low of 27,078. The selloff was triggered by profit-booking after a 7-8% two-session AI rally, followed by a global technology sector correction and strong US NFP data.
Why is Wipro falling so much today in the IT selloff?
Ans. Wipro is the biggest loser on June 8, 2026, falling 5.67% to Rs 187.13. This follows an exceptional rally in Wipro ADR, which had gained approximately 25% over eight sessions before correcting sharply. Global investors booking profits in Wipro ADR overnight created downward pressure that spilled into the domestic session, making it the steepest single-day fall in this cycle for the stock.
What is TCS share price today and why is it falling?
Ans. TCS share price is trading near Rs 2,162.90 on June 8, 2026, down 1.64% from its previous close of Rs 2,198.90. The stock touched a new 52-week low of Rs 2,144.10 intraday. TCS is falling as part of the broad AI trade reversal and sustained FII selling, with the stock now down over 30% from its 52-week high of Rs 3,538.
Will the Nifty IT index recover from this fall?
Ans. A recovery for the IT index depends on US CPI data due this week and Federal Reserve guidance. A softer US inflation reading could reduce rate hike fears and provide near-term relief. Longer-term recovery requires clarity that AI is generating new revenue for Indian IT companies rather than disrupting their traditional business. Monitor Q1 FY27 management commentary closely. This does not constitute investment advice.
What is the impact of the AI trade reversal on Indian IT stocks?
Ans. The AI trade reversal has removed a significant valuation premium from Indian IT stocks that had built up on optimism about AI-driven software spending. Companies like TCS, Infosys and Wipro rallied sharply before investors questioned the revenue monetisation timeline. The selloff has pushed the sector down approximately 8% in 4 sessions and brought several stocks to new 52-week lows.
What are the key levels to watch for Nifty IT?
Ans. The index has a 52-week high of 40,301.40 and a 52-week low of 27,078. Investors should watch 27,078 as a critical near-term support level. A break below that level could signal further downside, while a recovery above 30,000 would indicate stabilisation after the AI trade reversal selloff. Always verify current levels on NSE before making any trading decisions.
Should I buy Nifty IT stocks now after the fall?
Ans. This article does not constitute investment advice. While the correction in IT stocks has brought valuations closer to historical averages, near-term headwinds from the AI trade reversal, FII outflows, and US macro uncertainty remain. Investors should assess individual company fundamentals and await Q1 FY27 management commentary before forming a view. Consult a SEBI-registered advisor.
