IT stocks selloff, Feb. 24 -- The selloff in IT stocks showed no signs of abating as the index declined for the fifth day in a row on Tuesday, February 24, amid persistent fears of AI-driven disruption.

The Nifty IT index tanked 3.5% to a fresh 52-week low of 30,417.75, taking the month-to-date decline to 20%. As of yesterday's close, the IT pack has lost Rs.5.05 lakh crore in market capitalisation, according to data from Capitaline.

All Nifty IT constituents traded in the red, falling up to 4%. Persistent Systems, HCL Technologies and Coforge shares were the biggest losers, shedding over 4% each. Meanwhile, Infosys' share price declined 3.7%, TCS' shares 3.5% and Wipro's stock 2.9%.

Amid persistent fears of AI-led disruption, IT stock...