IT shares under pressure; Wipro, Mphasis, Coforge down by up to 5%

Shares of information technology (IT) companies are under pressure with Nifty IT index down over 2 per cent on the National Stock Exchange (NSE) in Wednesday’s intra-day trade on growth concerns.

The increased probability of a slowdown/recession in the US, along with uncertainty on US tariffs and its impact on the supply chain, may weigh on client decision-making in the near term and derail any hope of uptick in tech spending (particularly discretionary spending), or growth in calendar year 2025 (CY25), according to analysts.