A sharp selloff in Indian IT stocks has reduced the combined market capitalisation of the top five IT firms to nearly match Reliance Industries at around ₹18 lakh crore. AI disruption fears, weak technology spending and macro uncertainty continue to pressure the sector.

India's top IT giants, including TCS and Infosys, have lost over 50% of their market value, erasing Rs 19.28 lakh crore amid macroeconomic stress and generative AI disruptions.

A sharp selloff in Indian IT stocks has reduced the combined market capitalisation of the top five IT firms to nearly match Reliance Industries at around ₹18 lakh crore. AI…