Mutual Funds Dump 9 IT Stocks, Bet Big on Wipro: Is AI Reshaping the Sector?

• Mutual funds reduced stakes in 9 out of 10 major IT companies in January 2026, withdrawing Rs 1,906 crore.
• Only Wipro saw increased buying activity from mutual funds, including ICICI Prudential Mutual Fund and Quant Mutual Fund.
• Prominent stocks like OFSS, Wipro, TCS, Coforge, Infosys, and HCL Tech have fallen significantly from 52-week highs.
• ICICI Prudential AMC led the selling, offloading shares in Infosys, TCS, and HCL Tech.
• Experts suggest AI is shifting capital towards infrastructure and software, potentially reducing IT services' share in tech spending, but also creating new opportunities in AI-ready data architecture and system modernization.