IT stocks witnessed sharp selling pressure on Wednesday, with Tata Consultancy Services (TCS), LTM (LTIMindtree) and Persistent Systems leading the decline amid profit-taking after a strong rally in the sector over the past few sessions. TCS shares plunged more than 7 per cent during the session, marking their sharpest single-day fall.The Nifty IT index dropped nearly 5 per cent, or more than 1,500 points, to an intraday low of 29,604.25 against the previous close of 31,116.55. All constituents of the index traded in the red.Meanwhile, BSE Sensex plunged over 950 points to a low of 73,696.45 in today’s session, and Nifty 50 slumped over 270 points to 23,212.10.TCS shares fell over 7 per cent to hit a low of ₹2,265.20 in Wednesday’s trade. LTIMindtree shares also declined sharply, falling 7 per cent to ₹4,030 from the previous close of ₹4,341.70.Persistent Systems shares were down more than 5 per cent at ₹5,172 compared with the previous close of ₹5,470.50.Other heavyweight IT stocks including Wipro, Infosys, HCLTech and Tech Mahindra also traded lower, declining between 2 per cent and 5 per cent during the session.The sharp correction came after a strong rally in IT stocks in recent sessions. In the previous trading session, the Nifty IT index had surged 4 per cent, driven by positive commentary from global technology companies on AI-led demand, improving revenue visibility for Indian IT exporters and a weakening rupee, which benefits dollar-earning companies.The IT index had gained more than 7 per cent over the last three sessions before Wednesday’s profit-booking dragged the sector lower.More Like ThisPublished on June 3, 2026