Nifty IT Index Closes 2 Per Cent Lower As HCL, TCS, Infosys Shares Decline

Shares of domestic IT companies declined on March 28, 2025, the last day of trading of the current fiscal year 2024-25. Shares of Indian IT giants, such as Wipro, HCL Tech, Infosys and Tata Consultancy Services (TCS) fell as much as 3.45 per cent on the NSE.

Nifty IT Index Declines

The Nifty IT index declined nearly 2 per cent during the day. However, the index managed to recover a little towards the end of the day and closed lower by 1.76 per cent at 36,886.15.

Notably, all the 10 constituents of the index ended in the red. The declines seen in the shares of Infosys, TCS and HCL Technologies dragged the index down, as they closed lower by as much as 2.4 per cent. Infosys, TCS and HCL Technologies are the top constituents of the Nifty IT index, making up 29.08 per cent, 22.6 per cent and 10.58 per cent, respectively, of the index.

LTI Mindtree emerged as the top-loser among all Nifty IT constituents, closing lower by 3.59 per cent at Rs 4,488.85 apiece on the NSE. At the day’s low, the stock fell nearly 4 per cent to trade at Rs 4,475 apiece. Other major losers include Wipro, Persistent, HCL Tech and Infosys which closed lower by up to 2.15 per cent.

Why Did Nifty IT Decline Today

Tech stocks have seen uncertainty on the back of impending tariff imposition, uncertainties over global growth outlook, and geo -political tensions between Russia and Ukraine. The US Federal Reserve is also set to release the Personal Consumption Expenditures Price Index later today. The index acts as a gauge to project the trajectory of US interest rates.

The decline in Indian IT stocks today mirrored the decline seen in global markets a day prior. All major US indices declined with Dow Jones Futures, S&P 500 and the tech-heavy Nasdaq falling up to 0.53 per cent. Asian markets also traded under pressure, with indices, such as Japan’s Nikkei 225 declining 1.83 per cent, Hong-Kong based Hang-Seng index falling 0.65 per cent, and the Shanghai Composite declining 0.67 per cent.

The dips came in the wake of US President Donald Trump latest trade tariff announcement over the imposition of 25 per cent tariffs on imports.

Buy Outlook Money March 2025 Magazine Issue on Amazon Here