Rs 1.3 lakh crore shock! Why TCS, Infosys, other IT stocks fell up to 5%

India’s IT sector plunged on Thursday as the Nifty IT index fell over 4%, erasing Rs 1.3 lakh crore in market value amid AI-driven disruption fears. TCS, Infosys and Wipro hit fresh lows as Anthropic’s new automation tools triggered panic selling, widening concerns over shrinking moats, pricing pressure and weakening global demand.