Why Indian IT stocks fell while the market rose to nine-month highs
On 9 November 2026 the Nifty IT index fell 1.2%, the weakest sector of the day, according to HDFC Sky. Infosys fell 1.5%, HCL Technologies 2.4% and Tech Mahindra 1.4%. Meanwhile the Sensex and Nifty rose to their highest levels since February.
The report linked the pressure on tech to a sell-off in technology stocks in global markets. Investors abroad have been asking whether the very large sums being spent on artificial intelligence will earn enough profit. When US tech shares fall, Indian IT companies often feel the effect, because many of their clients are in the US and the sector is closely watched by global investors.
At the same time, money moved out of expensive tech stocks and into other markets and sectors. In India, PSU banks rose 3.7% and pharma stocks 1.6% on the same day.
What to remember: one day's fall does not show a long-term trend. IT companies earn most of their money in dollars, so their results also depend on the rupee and on client spending.
This article is for information and is not investment advice.