Amid AI concerns, Infosys and Tata Consultancy lead sell-off in Indian software stocks

Glonghui, February 12｜Due to growing market concerns that artificial intelligence may impact existing business models, Indian software companies experienced declines, with Infosys and Tata Consultancy Services (TCS) leading the drop. On Thursday, shares of these two largest Indian software companies both fell by more than 4%, dragging down their peers and causing the sector-wide sell-off to continue expanding. The Nifty IT Index in India once plummeted 4.6%, hitting its lowest level since October 1 last year, with all 10 constituent stocks closing lower.