IT stocks slide as AI automation signals an agentic shift
India, Feb. 5 -- Shares of top Indian information technology services were battered on Wednesday, mirroring the decline in US technology and software stocks over renewed fears of disruption caused by artificial intelligence.
Shares of TCS, Infosys, HCL Tech, Wipro, and Tech Mahindra were down 6.95%, 7.19%, 4.22%, 3.73% and 4.12%, respectively, at close on Wednesday, while the Sensex was largely flat at 83,817.6 points.
The selloff was triggered by a new tool from Anthropic, called Claude Cowork Plugins, which showed the AI industry can now unlock lucrative enterprise revenue. The impact was not limited to technology companies. Advertising stocks also stayed under pressure with France's Publicis down 4.1% and Britain's WPP losing 3.3%.
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