Mumbai, June 19: Several mid-cap IT stocks have witnessed significant corrections in recent trading sessions, with some declining by over 60 per cent from their recent highs, reflecting broader weakness in the technology sector.
Market data indicates sustained selling pressure in select IT counters amid concerns over global demand trends, valuation adjustments, and cautious investor sentiment.
Industry heavyweight Tata Consultancy Services (TCS) has also seen notable pressure, with its stock declining around 55 per cent from its record high levels, as part of the ongoing sector-wide correction.
Analysts suggest that the decline in mid-cap IT stocks reflects a combination of profit booking at higher levels, global macroeconomic uncertainty, and shifting investor preference toward other sectors.
Despite the correction, experts note that long-term structural demand for digital services remains intact, supported by cloud adoption, artificial intelligence integration, and enterprise technology transformation across global markets.
Market participants are closely watching upcoming earnings and global IT spending trends for cues on potential stabilization in the sector.