Nifty IT tanks 10 percent in a week as earnings disappoint and FIIs exit

Weak Q4 numbers and guarded outlook sparked heavy selling

India’s Nifty IT index slid about 10% in a single week, its worst stretch since March 2020, as weak Q4 earnings and cautious guidance spooked investors. Heavy selling accelerated amid FIIs reducing exposure and deteriorating technical indicators. While some investors see value in mid-cap IT names over the long run, analysts warn downside risk may persist.