IT Stocks Fall as US Tech Sell-Off Weighs on Sentiment; Infosys, TCS Among Top Losers

IT stocks witnessed selling pressure during trading on Tuesday, June 23, after a decline in major US technology stocks weighed on investor sentiment globally. Market participants tracked developments related to US-Iran negotiations and assessed the outlook for artificial intelligence-linked technology spending. 

The weakness in US markets spilled over domestic technology stocks, leading to broad-based declines across the NIFTY IT index. 

NIFTY IT Falls Nearly 2%; Infosys Leads Declines 

As of 10:30 AM on June 23, 2026, the NIFTY IT index was trading at 27,137.85, down 490.70 points or 1.78%. Out of the 10 constituents, 8 stocks traded lower while 2 stocks advanced. 

Infosys share price emerged as the biggest laggard in the index, declining 2.84% to ₹1,035.10. TCS share price fell 2.12% to ₹2,082.70, while LTIMindtree share price also declined 2.12% to ₹3,749.00. 

Among other constituents, Wipro share price fell 1.76% to ₹177.00, Mphasis share price declined 1.75% to ₹2,240.30, Tech Mahindra share price slipped 1.66% to ₹1,411.40, and HCL Technologies share price was down 1.43% at ₹1,114.30. 

Meanwhile, Oracle Financial Services Software (OFSS) share price gained 0.56% to ₹9,786.00, while Persistent Systems share price rose 0.24% to ₹4,872.00. 

Read More: Stocks to Watch Today: Craftsman Automation, JSW Infrastructure, Vodafone Idea, Bharat Electronics, and Others (June 23, 2026) 

US Technology Stocks End Lower 

US equity markets ended lower overnight as technology stocks faced selling pressure. Alphabet led to the decline, falling 5%, while Meta Platforms, Amazon and Microsoft declined between 2.3% and 4.7%. 

The weakness in these large-cap technology companies weighed the S&P 500 and Nasdaq indices and affected sentiment across global technology stocks. 

Investors are also monitoring artificial intelligence-related spending trends. Market participants are awaiting quarterly earnings from Micron Technology, scheduled for release on Wednesday, for further indications on AI demand. 

Conclusion 

NIFTY IT traded lower on June 23, tracking weakness in US technology stocks. Infosys, TCS, LTIMindtree, Wipro, Mphasis and Tech Mahindra were among the key decliners, while OFSS and Persistent Systems registered gains. Investors continue to monitor developments in global technology markets and upcoming corporate earnings for indications on technology spending trends. 

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