Nifty IT Index Crashes: 2008-Like Devastation as 60% of Shares Fall Over 20% in 2 Months

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Nifty IT Plummets: 2008-Like Crash as 6 of 10 Stocks Drop Over 20% in 2 Months

IT Stocks Crash

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CNBC Awaaz•24-02-2026, 11:24

Nifty IT Plummets: 2008-Like Crash as 6 of 10 Stocks Drop Over 20% in 2 Months

•Nifty IT index down 19% in February, worst month since September 2008 financial crisis.
•Six out of ten Nifty IT shares have fallen over 20% in the first two months of the year.
•Coforge, Wipro, Persistent Systems, LTIMindtree, and Infosys are among the worst performers.
•Jefferies downgraded IT stocks, warning AI could shift sector to consulting, reducing managed services.
•Foreign institutional investors (FIIs) selling heavily, with holdings at a 4-year low, impacting IT shares.

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