Nifty IT index slips 4%; TCS hits 52-week low, TechM, Persistent down 6%

Shares of information technology (IT) companies came under pressure, with the Nifty IT index falling 4.2 per cent on the National Stock Exchange (NSE) on Friday, amid concerns over sluggish global economic growth.

US markets nosedived on Thursday, weighed down by a slump in chipmaker Nvidia stocks, whose quarterly report failed to reignite Wall Street’s AI rally.

The Nifty IT index saw the steepest decline among sectoral indices.