AI risks hit IT sector: Elara Capital downgrades TCS, Infosys and other stocks

The stock market surged following the Iran-US ceasefire, with Nifty 50 and Sensex rallying significantly. However, the Nifty IT index lagged due to persistent AI concerns.

Mumbai: The 2-week ceasefire between Iran and the United States led to a huge surge in the Stock Market on Wednesday. The Nifty 50 soared 3.78 percent, while the BSE Sensex rallied 3.95 percent. All indices recorded significant gains today, however, the Nifty IT index rose only 0.52 percent. The IT sector has been facing volatility of late. The Nifty IT index has recorded a decline of 5 percent over the past one year, 8.93 percent in six months, and 18.40 percent in the past........

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