Indian IT Stocks Plunge 5.25% Amid Global Software Downturn, Agentic AI Threat

Indian IT stocks, including industry giants TCS and Infosys, experienced a significant slump of 5.25% at market opening. This sharp decline is primarily attributed to a broader global software market downturn. Furthermore, the emerging threat of Agentic AI is perceived to potentially disrupt the existing business models of Indian IT companies, exacerbating investor concerns. The Nifty IT index consequently fell sharply, also pulling down the benchmark Nifty 50 index. This development underscores the growing impact of technological advancements and market shifts on the sector's valuation.