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Nifty IT drops 3% as Infosys TCS slide up to 5% amid fresh AI fears
Economy
Published on 12 May 2026
OpenAI’s move reignites fears of faster AI disruption
Indian IT stocks took a sharp hit as Infosys, TCS and peers fell as much as 5%, pulling the Nifty IT index down around 3%. The selloff followed OpenAI’s launch of a Deployment Company, reviving worries that AI disruption could accelerate for IT services. Sentiment stayed weak even as Wall Street logged record highs and the rupee weakened.
- Infosys and TCS-led declines dragged the Nifty IT index down 3%
- Peers like HCLTech fell up to 5% in the sharp selloff
- OpenAI’s new Deployment Company revived AI-led disruption fears
- Weak market mood persisted despite a strong Wall Street rally
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times