Nifty IT hits over 3-year low, crashes 30% year-to-date. Is it the right time to buy IT stocks?

The Nifty IT index dropped to 26,208.50- its lowest level since April 2023- in intraday trade on Tuesday, 30 June. The index finally ended with a hefty loss of 2.73% at 26,299, with only one component- Persistent Systems (up 0.65%)- out of the total 10, in the green. LTM (down 4%), TCS (down 3.17%), and Infosys (down 3.50%) ended as the top laggards in the index.

The IT pack has lost 30% this year so far, featuring as the worst sectoral performer in the first half of calendar year 2026 (H1CY26). Nifty 50, on the other hand, has declined 9% year-to-date.