Nifty IT Index Falls for an 8th Straight Session as Infosys and Wipro Hit Fresh 52-Week Lows
- September 29, 2026
- Posted by: Kunal Singla
- Category: News
Nifty IT down 1% (29 Sep, 11 AM), 8th straight losing day. Infosys Rs 987.80, fresh 52-wk low. Wipro Rs 159.19, fresh 52-wk low. HCL Tech, TCS also lower.
Quick Answer
The Nifty IT index was down about 1 percent on 29 September 2026, extending its losing run to an eighth consecutive session. Infosys and Wipro both touched fresh 52-week lows during the day, trading at Rs 987.80 and Rs 159.19 respectively, while Oracle Financial Services, HCL Technologies, MphasiS, Persistent Systems, TCS, LTM and Tech Mahindra also traded lower. The extended decline lines up with a broader risk-off mood in Indian equities tied to rising crude oil prices and US bond yields. Both Infosys and Wipro carry an RSI near 24 to 25, deep in oversold territory, even as their dividend yields have risen to multi-year highs.
The Nifty IT index extended its losing streak to an eighth straight session on Tuesday, falling about 1 percent as intraday weakness spread across the sector’s largest names. Oracle Financial Services led the declines, down 1.67 percent, followed by HCL Technologies, Infosys, Wipro, MphasiS, Persistent Systems, TCS, LTM and Tech Mahindra, all trading lower during the session.
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Infosys and Wipro were the standout stories, both slipping to fresh 52-week lows even as the broader Nifty 50 was down a more modest amount. This article covers the extent of the fall, the live levels for the two weakest large caps, and what is driving the sector lower.
Nifty IT Top Losers Today
| Company | Change | Note |
|---|---|---|
| Oracle Financial Services | -1.67% | |
| HCL Technologies | -1.60% | Also announced a Robotiq.ai acquisition today |
| Infosys | -1.46% (intraday) | Fresh 52-week low |
| Wipro | -1.41% (intraday) | Fresh 52-week low |
| MphasiS | -1.33% | |
| Persistent Systems | -1.03% | |
| TCS | -0.96% | |
| LTM | -0.47% | |
| Tech Mahindra | -0.32% |
For the Nifty IT index, every large name in the table was in the red, which shows the pressure is sector-wide rather than tied to one company’s results or news. Oracle Financial Services and HCL Technologies were the day’s sharpest decliners among the largest names, though HCL’s fall coincided with its own acquisition announcement rather than a sector-only move.
Also read – Tata Group Stocks Slide as Tata Trusts Proposes Folding TESS and TCE Into Tata Sons to Dodge a Listing
Infosys and Wipro: Live Levels at Fresh 52-Week Lows
| Metric | Infosys | Wipro |
|---|---|---|
| Price | Rs 987.80 | Rs 159.19 |
| Previous close | Rs 1,003.20 | Rs 161.56 |
| 52-week low (fresh today) | Rs 982.40 | Rs 160.97 |
| 52-week high | Rs 1,728.00 | Rs 273.10 |
| RSI (14-day) | 24.4 | 24.6 |
| SuperTrend | Bearish, resistance Rs 1,057.79 | Bearish, resistance Rs 169.99 |
| 20-day average | Rs 1,058.81 | Rs 168.49 |
| Dividend yield | 4.78% | 7.20% |
| P/E vs industry P/E | 13.42 vs 17.57 | 12.06 vs 17.57 |
For the Nifty IT index’s two weakest large caps, both stocks now sit at or just above their fresh 52-week lows, with RSI readings near 24 to 25, well into oversold territory by the conventional 30 threshold. Both trade at a discount to the IT industry’s average P/E of 17.57, and Wipro’s dividend yield of 7.20 percent is unusually high for a large-cap technology stock.
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Why the Nifty IT Index Is Falling for an 8th Day
The extended weakness in the Nifty IT index lines up with the broader market’s own second straight day of selling, driven by Brent crude near $107 a barrel and the US 10-year Treasury yield around 5.25 percent, its highest level since 2007. Higher US yields typically weigh on IT services stocks specifically because a large share of sector revenue and valuation is tied to US client budgets and dollar-denominated earnings, both sensitive to US rate expectations.
Foreign portfolio investors have also net sold about Rs 20,695 crore of Indian stocks in September, reversing two months of buying, and IT is one of the sectors most exposed to foreign ownership, which can deepen sector-specific selling once outflows begin.
Valuation Cushion and Risks for the Nifty IT Index
Within the Nifty IT index, Infosys and Wipro both trade at meaningful discounts to the industry P/E of 17.57, at 13.42 and 12.06 respectively, and their dividend yields have risen as prices have fallen, which can attract value and income-focused buyers even in a weak tape. That valuation cushion does not guarantee a floor, since oversold conditions can persist through a genuine change in sector fundamentals.
Risks for the Nifty IT index include continued strength in crude oil and US bond yields, which would keep the macro backdrop unfavourable for IT valuations, further FPI outflows, and any signs that US client budgets for technology spending are slowing rather than merely facing near-term rate-driven headwinds. Company-specific results over the coming quarters will be the clearer test of whether the current oversold readings reflect a temporary macro squeeze or a deeper demand issue.
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Conclusion
The Nifty IT index fell for an eighth straight session, with Infosys and Wipro both touching fresh 52-week lows as rising crude oil prices and US bond yields weigh on the sector. Discounted valuations and rising dividend yields on both stocks are supports, while continued macro pressure and FPI outflows are the risks. Investors tracking IT stocks should watch the SuperTrend resistance levels on Infosys and Wipro, follow stop-loss levels and consult a SEBI-registered adviser.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data independently 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
Why is the Nifty IT index falling today?
Ans. The Nifty IT index is down about 1 percent, extending its losing run to an eighth straight session, as rising crude oil prices and US bond yields weigh on IT stocks.
Which IT stocks hit fresh 52-week lows today?
Ans. Infosys touched a fresh 52-week low of Rs 982.40 and Wipro touched Rs 160.97, both during Tuesday’s session.
What are the top losers on the Nifty IT index today?
Ans. Oracle Financial Services, HCL Technologies, Infosys, Wipro, MphasiS, Persistent Systems, TCS, LTM and Tech Mahindra were all trading lower.
Why do rising US bond yields hurt IT stocks?
Ans. IT services revenue and valuations are closely tied to US client budgets and dollar earnings, so higher US yields and rate expectations weigh on sentiment for the sector.
Are Infosys and Wipro attractively priced after the fall?
Ans. Both trade below the industry P/E of 17.57, at 13.42 and 12.06 respectively, and their dividend yields have risen as prices have fallen.
What are the key technical levels for Infosys and Wipro?
Ans. Infosys faces SuperTrend resistance at Rs 1,057.79 and Wipro at Rs 169.99. Both have an RSI near 24 to 25, in oversold territory.
Are foreign investors selling Indian IT stocks?
Ans. Foreign portfolio investors have net sold about Rs 20,695 crore of Indian stocks in September, reversing two months of buying, which has added to sector pressure.
Should I buy IT stocks at these levels?
Ans. Oversold readings and high dividend yields are attractive, but the macro backdrop remains unfavourable. Use a stop-loss and consult a SEBI-registered adviser.
