Mumbai/IBNS, Feb. 12 -- The Nifty IT index plunged 4 percent on Thursday amid rising concerns that rapid advancements in Artificial Intelligence (AI) could disrupt traditional software and IT services, media reports said.

Shares of Tata Consultancy Services (TCS) and Wipro hit their respective 52-week lows, while companies such as Coforge and Oracle fell 4-5 percent, CNBC-TV18 reported.

So far in 2026, the Nifty IT index has declined 11.5 percent, reflecting sustained pressure on the sector.

IBM Chief Executive Officer Arvind Krishna has recently fuelled concerns over job losses due to rapid technological advancement, acknowledging that some roles will be eliminated by the AI boom while expressing optimism about the creation of new job...