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Mumbai – Software major Infosys Ltd led a sharp sell-off in Indian technology shares on Thursday, tumbling as much as 5.2 % intraday to ₹1,396 before closing at ₹1,420. The slide erased roughly ₹30,000 crore ($3.6 billion) in market value and dragged the Nifty IT index down 4.6 % to its lowest level since April 2025. What triggered the rout • Overnight weakness in U.S. tech names after a profit warning from an AI-hardware supplier sparked fears of slower cloud spending. • Renewed worries that generative-AI tools could compress billing rates for traditional application-maintenance work, a core revenue stream for Indian vendors. • A stronger rupee, which trims export margins, and lingering uncertainty over FY 2026 hiring plans in key client verticals. Broader impact Tata Consultancy Services, Wipro, HCLTech and Tech Mahindra all fell between 4 % and 5 %, wiping out about ₹1.3 lakh crore in combined market capitalisation. With 47 of 50 Nifty IT constituents in the red, the sectoral gauge under-performed the headline Nifty 50, which slipped 0.8 % to 25,812. Key levels to watch • Infosys share price today faces immediate resistance at ₹1,450; a break below ₹1,380 could open room toward the 52-week low of ₹1,342. • Nifty IT must reclaim 37,800 for any near-term relief; otherwise technicians see support at 36,100. Analyst view Brokerages remain divided. While several houses reiterated “Buy” calls citing attractive valuations after the correction, others warned that FY 2027 revenue growth could slip to single digits if North-American banks continue to postpone discretionary deals. Investors are advised to track: 1. US January CPI print tonight for clues on rate-sensitive tech spending. 2. Management commentary during Infosys’ Q4 results in April. 3. Currency moves; every 1-rupee appreciation versus the dollar can shave 25–30 bps off sector EBIT margins. Bottom line For now, sentiment around Infosys share price and its peers is hostage to global tech cues and AI-related earnings revisions. Traders should brace for heightened volatility, while long-term investors may use further dips toward 15–16× FY 2027 EPS as staggered accumulation zones, provided deal-win momentum holds in BFSI and healthcare verticals.