The tech stocks are under pressure today, with most counters down over 1% in intraday trade. The Nifty IT fell as much as 1.7%. All 10 constituents of the Nifty IT index were trading in the red. Oracle saw the maximum hit, followed by Coforge , HCL Technologies , LTI Mindtree , Wipro, and many others. Coforge’s stock price hit an intra-day low of Rs 1,715.

Why are tech stocks falling? – 3 reasons

1. The big AI worry: The AI bubble losing steam in the US is seen as a key reason for the selling pressure across the tech sector. Ajit Mishra, Senior Vice President of Research at Religare Broking, said that “the recent fall in the US markets due to the AI bubble losing some steam on the back of high valuations may have impacted the Indian IT stocks. However, the Indian IT companies

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