Indian IT stocks follow US technology stocks lower

On Tuesday morning, affected by market concerns about the impact of artificial intelligence on the industry and dragging down US technology stocks, the stock prices of Indian software and information technology service providers continued to fall. The industry leader Tata Consultancy Services saw its stock price drop by as much as 2.8%, while Infosys fell by 3.2%. Among the 10 components of the Indian Nifty IT Index, all except one fell by at least 2%, with the index falling by as much as 2.7%, potentially reaching its lowest level since November 2023.