TCS, Tech Mahindra, Infosys, Wipro, other IT stocks fall up to 9% on Trump’s tariff decision

Shares of information technology (IT) heavyweights such as Tech Mahindra, TCS, Infosys, and Wipro witnessed sharp selling on Thursday after U.S. President Donald Trump announced reciprocal tariffs across as many as 180 countries globally. The sentiment was further dented after U.S. futures, including Nasdaq-100, the Dow Jones Industrial Average, and S&P 500, fell up to 4.5% amid concerns that aggressive tariffs would severely hinder global economic growth, hurt corporate profits, spike inflation, and intensify existing trade conflict.

At 11:25 AM, the BSE Sensex and NSE Nifty were down 0.35%, largely due to broad-based selling across IT space, with the BSE IT index falling up to 3.6%. The   bluechip IT stocks TCS, Tech Mahindra, Infosys, Wipro, and HCL Tech falling between 3-4%.

Tata Consultancy Services (TCS), the country’s most valued IT stock, declined as much as 3.6%, while Infosys, the second largest software exporter, dropped up to 3.3% in the first two hours of trade so far.

Among others, Tech Mahindra, HCL Tech, Wipro, and LTIMindtree shares were down up to 3%.