IT Sector Plummets: Investors Lose 1 Trillion Rupees in Hours

• Indian stock market saw a massive sell-off in IT shares on Thursday, leading to a loss of 1.00372 trillion rupees for investors.
• Major IT companies like Infosys, TCS, Wipro, and HCL Tech experienced declines of up to 5 percent.
• The market capitalization of five major IT companies dropped from 24.71 trillion rupees to 23.71 trillion rupees in a single day.
• Reasons for the decline include movements in the American market, the growing influence of Artificial Intelligence (AI), and new software impacting traditional IT business models.
• TCS, once second in market capitalization, has now slipped to fifth position, surpassed by State Bank of India and ICICI Bank.