FIIs Divest Rs 17,000 Crore from IT Stocks in February Amid AI Worries

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FIIs Dump Rs 17,000 Crore in IT Stocks Amid AI Concerns, Sector Plunges

IT stocks

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Moneycontrol•06-03-2026, 06:22

FIIs Dump Rs 17,000 Crore in IT Stocks Amid AI Concerns, Sector Plunges

•Foreign Institutional Investors (FIIs) sold IT stocks worth Rs 17,000 crore in February due to fears over generative AI's impact.
•Concerns about AI reducing demand for human-led coding and IT support services triggered the sharp selloff.
•FIIs' investment in IT stocks fell to a four-year low of Rs 4.18 lakh crore, a 21.8% drop from January.
•Major IT companies like Infosys, TCS, HCL Technologies, and Wipro saw stock prices decline by 17-23%; Nifty IT index dropped 20.8%.
•Despite the IT selloff, FIIs were net buyers in Indian equities overall, investing Rs 15,250 crore, with strong buying in capital goods, auto, and financial services.

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