TCS, Infosys, HCLTech fall up to 4%: Why IT stocks are under pressure today

IT stocks snapped a five-session winning streak on Friday, with investors booking profits after the sector’s sharp rally this month and global sentiment shifting back towards AI-linked chipmakers following a strong overnight rebound on Wall Street and across Asian markets. The Nifty IT index fell nearly 3% in early trade, making it the worst-performing sector on Dalal Street. Among the biggest losers were TCS, which declined 3.5%, Infosys (3.4%), Persistent Systems (3.2%), Mphasis (2.5%), Wipro (2.4%), LTIMindtree (2.1%) and HCLTech (2.1%). Coforge, which had rallied strongly over the past week, also traded lower. The weakness was also reflected among Sensex…