IT Stocks Crash: Nifty IT Index Down 20% This Month, Biggest Fall Since 2008

• The Nifty IT Index has plummeted over 20% this month, marking its largest monthly decline since the 2008 global financial crisis.
• All 10 shares in the index have fallen by more than 10% this year, with 6 dropping over 20% in two months.
• Coforge is the worst performer, down 25% this year, yet 29 out of 38 analysts recommend 'buy' with a potential 51% upside.
• Wipro, Persistent Systems, LTIMindtree, and Infosys have also seen significant declines, ranging from 20% to 23.5%.
• Analysts attribute the pressure to AI-related concerns and valuation de-rating, with many still recommending 'buy' for major IT stocks.