India, Feb. 12 -- Shares of Indian software exporters slid more than 4% on Thursday, extending losses for the week, as persistent fears of AI-led disruption and fading hopes of a near-term rate cut by the U.S. Federal Reserve weighed on sentiment.

The Nifty IT index fell to a four-month low, with Tata Consultancy Services, Infosys and HCLTech down 3.7% to 4.4%. The 10-member sub-index was the worst performer on the day and for the year after falling 12.6% in 2025, and is down 11.4% so far in 2026.

Tech stocks around the world have come under pressure after Amazon and Google-backed Anthropic launched its Claude Cowork AI tool to automate tasks across legal, sales, marketing and data analysis, stoking concerns over demand for people-inten...