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IT stocks have declined up to 9% on Wednesday, June 3, after witnessing a strong upmove over the two trade sessions. The Nifty IT index is down nearly 6%, with all 10 stocks trading with losses. Cumulatively, the stocks on the Nifty IT have wiped out over ₹1.5 lakh crore in investor wealth, with TCS contributing to more than half of that fall. Five out of the 10 Nifty IT constituents, TCS, LTM, Coforge, Persistent Systems and Tech Mahindra, are trading more than 5% down.
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IT stocks have declined up to 9% on Wednesday, June 3, after witnessing a strong upmove over the two trade sessions. The Nifty IT index is down nearly 6%, with all 10 stocks trading with losses. Cumulatively, the stocks on the Nifty IT have wiped out over ₹1.5 lakh crore in investor wealth, with TCS contributing to more than half of that fall. Five out of the 10 Nifty IT constituents, TCS, LTM, Coforge, Persistent Systems and Tech Mahindra, are trading more than 5% down.
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TCS | The stock fell 9.1% to hit an intraday low of ₹2,224.8 apiece. This is its biggest single-day loss since March 2020. Its market cap has declined by ₹76,667 crore. The stock has declined 30.6% this year, so far.
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LTM | LTM shares snapped their four-day gaining streak, declining 8% to hit an intraday low of 3,993 apiece. This is the stock's biggest single-day fall since January 2024. It has witnessed a market cap fall of ₹9,927 crore. The stock is down 9.7% this year, so far.
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Coforge | The stock snapped its three-day gaining streak and fell 6.4% to hit an intraday low of ₹1,422 apiece on Wednesday. This is its biggest single-day loss since February 12, 2026. Its market cap fell by ₹3,126 crore. While the stock has risen 24.5% in the past month, it has declined 13.4% this year, so far.
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Persistent Systems | The stock is trading with losses after three days of gains. It fell 6.4% to hit an intraday low of ₹5,119 apiece. Its market cap declined by ₹5,161 crore at the day's low. This is its biggest single-day fall since April 24, 2026. While the stock is up 7.9% in the past month, it has fallen 17.8% this year, so far.
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Tech Mahindra | The stock fell 6.5% to hit an intraday low of ₹1,469.6 apiece on Wednesday. Its market cap declined by ₹9,459 crore. This is its biggest single-day fall since February 12, 2026. The stock has declined 8% this year, so far.
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Other constituents of the Nifty IT such as Infosys, Mphasis, Oracle Financial Services and Wipro, are also trading with losses between 2.5% to 4%. Infosys too, has wiped out over ₹20,000 crore in investor wealth in today's trading session.
