The Nifty IT index kicked off March with an over 2% cut to 29,889, nearing its 52-week low level of 29,875. Meanwhile, shares of several index heavyweights like Tata Consultancy Services (TCS), Infosys, HCL Technologies and Wipro shed between 1.5-3%. In February alone, the selloff wiped off ₹5.69 lakh crore from IT stocks' market capitalisation, according to data from Capitaline. TCS shares emerged as the biggest wealth eroders, with a ₹176,019 crore m-cap loss, followed by Infosys, whose investors lost a cumulative ₹138,131 crore in a month. US-Iran war impact on IT stocks Now, the IT companies are facing a fresh setback in the light of the US-Iran war.
