{
  "id": 6386659,
  "title": "IT stocks crash as Coforge leads selloff; Infosys, Tech Mahindra, HCL Tech, TCS slide",
  "url": "https://urgent.news/2026/09/09/it-stocks-crash-as-coforge-leads-selloff-infosys-tech-mahindra-hcl",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-09T05:07:51.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/it-stocks-crash-as-coforge-leads-selloff-infosys-tech-mahindra-hcl-tech-tcs-slide/article71445708.ece"
  },
  "original_language": "en",
  "account": "IT stocks experienced a significant sell-off on Wednesday, leading to a broader market decline as Coforge suffered a sharp drop following the resignation of its chairman and independent director, O P Bhatt. The Nifty IT index plunged nearly 3.6% to 28,779.80, while the broader Nifty 50 index fell 168 points to 23,466.65. All IT counters were in the red, with Coforge leading the decline at 8.6%. Foreign fund outflows and global uncertainty concerns added to investor sentiment, as crude prices remained high, and the Fed's hawkish expectations persisted. Despite stronger-than-expected US jobs data, IT stocks remain vulnerable due to potential tighter monetary policy and concerns over AI-driven deflation.",
  "summary": "The Nifty IT index fell nearly 3.6 per cent to 28,779.80 from its previous close of 29,883.45.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Hindu BusinessLine",
        "title": "IT stocks crash as Coforge leads selloff; Infosys, Tech Mahindra, HCL Tech, TCS slide as H1-B visa fee hike adds to sector pressure",
        "url": "https://urgent.news/2026/09/09/it-stocks-crash-as-coforge-leads-selloff-infosys-tech-mahindra-hcl-6400634",
        "published": "2026-09-09T08:01:34.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}