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Midcap IT Sector Sees Up to 8% Drop; Persistent, Coforge Lead Declines as Sell-off Spreads
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Midcap IT Stocks Plummet 8% as Sell-Off Deepens; Persistent, Coforge Lead Losses
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Moneycontrol
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24-02-2026, 13:19
Midcap IT Stocks Plummet 8% as Sell-Off Deepens; Persistent, Coforge Lead Losses
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Midcap IT stocks experienced intense selling pressure, falling 4-8 percent, extending the sector-wide rout beyond large-cap names.
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Losses in mid-sized companies were sharper than those seen in large-cap IT stocks, driven by investor anxiety over AI-led disruption.
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Persistent Systems plunged 7.7% and Coforge fell 6.6%, leading the losses among top BSE Midcap index constituents.
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Other midcap IT stocks like L&T Technology Services, Tata Elxsi, KPIT Technologies, and Tata Technologies also saw steep intraday declines.
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Concerns about AI's impact on traditional IT services business models and brokerage downgrades contributed to the sector's cautious sentiment.
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