Indian IT stocks brace for impact as AI concerns drive US market downturn

New Delhi: The US stock markets witnessed high volatility on Friday due to the concerns related to AI’s pressure on tech shares. The American Depositary Receipts (ADRs) of Infosys Limited declined 5% to $13.99 on the New York Stock Exchange. The ADRs of Wipro Limited fell 3.5% to the level of $2.17. The stocks are expected to take a hut in the Indian market on March 2, 2026 (Monday).

The Infosys shares settled at Rs 1,298.90 apiece on Friday. The stock has declined over 20 per cent over a month. The shares of Wipro ended at 200.98. The company’s stock has declined 17 per cent in a month. Tata Consultancy Services (TCS) shares ended at Rs 2,639.70 apiece. The share price of India’s largest IT sector company dropped by around 17% in a month. The HCL Technologies share finished at Rs 1,382. It has declined by nearly 18% in a month.

Infosys details on BSE as on Feb 27, 2026

Previous Close: 1289.35
Open: 1319.40
High: 1335.00
Low: 1296.00
VWAP: 1,311.13
52 Wk High: 1,775.90
52 Wk Low: 1,265.00
Upper Price Band: 1,429.90
Lower Price Band: 1,170.00
Price Band: No Band
TTQ (Lakh): 7.08
Turnover (Cr.): 92.87
2W Avg Qty`(Lakh):9.54
Mcap Full (Cr.): 5,27,087.45
Mcap FF (Cr.): 4,54,333.04
EPS (TTM) 68.72 / 69.06 (Standalone / Consolidated)
CEPS (TTM) 74.60 / 80.84 (Standalone / Consolidated)
PE 18.92 / 18.82 (Standalone / Consolidated)
ROE / PB 33.67 / 6.37
Face Value 5.00

US Stock Market down

The US frontline indices were seen trading lower Friday. The Dow Jones Industrial Average dropped by more than 800 points, while sharp declines were also recorded in the Nasdaq Composite and the S&P 500. Tech giants such as Microsoft, Apple, Nvidia, Adobe, and Cisco took a hit.

Block Inc. CEO Jack Dorsey has said that AI tools are changing the way companies operate and that the firm is expected to cuts its workforce. Block is likely to slash 4,000 jobs out of over 10,000 employees. After this announcement, the company’s stock jumped nearly 20%. Dorsey said that many companies will go ahead with similar structural changes this year. Experts believe that this could impact traditional employment and business models.

(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, precious metals, commodity, REITs, InvITs and any form of alternative investment instruments and crypto assets.)