Why are Indian IT stocks falling today? Infosys, HCL Tech, TCS tumble as global tech selloff deepens

Indian IT stocks faced heavy selling pressure on June 11, 2026, dragging the Nifty IT index down 2.7% to an intraday low of 27,519.15, the worst performer among sectors even as the broader Nifty 50 declined just 0.5%. HCL Technologies led losses with a 3.5% drop, followed by Infosys and LTIM, each falling around 3%, while mid-tier firms like Mphasis and Persistent Systems also declined over 2%. TCS, Coforge, and Tech Mahindra lost over 1.5%, with Wipro and L&T Technology Services down about 1%. The selloff mirrored global tech weakness, with Wall Street’s S&P 500 and Nasdaq Composite falling 1.6% and 2%, respectively, after May US inflation accelerated to its fastest pace since April 2023. Though the data matched expectations, it heightened fears the Federal Reserve may keep rates elevated longer. Oracle’s 8.9% plunge after announcing $40 billion in debt-equity financing for AI investments further spooked markets. Geopolitical tensions in the Middle East and persistent inflationary pressures compounded risks, while the US dollar index held steady near 100.03. Investors now focus on Fed Chair Kevin Warsh’s policy stance, with traders watching whether higher rates will persist to curb inflation. Indian IT shares remain vulnerable to US market movements, as a significant portion of their revenue originates there. The sector’s sensitivity to macroeconomic and geopolitical risks suggests further volatility ahead.