Midcap IT Sector Sees Up to 8% Drop; Persistent, Coforge Lead Declines as Sell-off Spreads

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Midcap IT Stocks Plummet 8% as Sell-Off Deepens; Persistent, Coforge Lead Losses

IT stocks fall today

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Moneycontrol•24-02-2026, 13:19

Midcap IT Stocks Plummet 8% as Sell-Off Deepens; Persistent, Coforge Lead Losses

•Midcap IT stocks experienced intense selling pressure, falling 4-8 percent, extending the sector-wide rout beyond large-cap names.
•Losses in mid-sized companies were sharper than those seen in large-cap IT stocks, driven by investor anxiety over AI-led disruption.
•Persistent Systems plunged 7.7% and Coforge fell 6.6%, leading the losses among top BSE Midcap index constituents.
•Other midcap IT stocks like L&T Technology Services, Tata Elxsi, KPIT Technologies, and Tata Technologies also saw steep intraday declines.
•Concerns about AI's impact on traditional IT services business models and brokerage downgrades contributed to the sector's cautious sentiment.

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