IT Stocks Plunge Ahead of Q3 Results; NIFTY IT Down 2%, Brokerages Cautious

• NIFTY IT index fell by approximately 2% on January 8, reversing a two-session gain.
• Shares of Wipro, Oracle Financial Services Software, and Coforge declined over 3%.
• TCS and Tech Mahindra shares dropped about 3%, while Infosys was down 1.6%.
• Indian IT firms are set to report their October-December 2025 quarterly earnings next week.
• Brokerage firms Jefferies and CLSA expressed caution, with CLSA downgrading HCLTech and Tech Mahindra due to low Q3 earnings estimates.

Why It Matters: Indian IT stocks dropped significantly ahead of Q3 results, driven by brokerage caution on earnings outlook.