IT stocks under pressure: Nifty IT slips 7% on fears around recession

Amid a massive sell-off across all sectoral indices, Nifty IT slumped 7.7 per cent in trade on Monday, April 7, 2025, logging an intraday low at 30,918.95. All 10 constituents on the index, around 9:50 AM, declined with Coforge down 9 per cent, Mphasis, Persistent Systems and HCLTech down over 6 per cent, Tech Mahindra, Infosys, Wipro down over 5 per cent, TCS, Infosys and Oracle Financial Services down over 4 per cent.