Archive · 31 Jul 2026
Indian IT Stocks Dip After Five‑Day Rally
On July 31, Indian IT stocks went down a little after a strong five‑day run.
Big companies like Infosys and Tata Consultancy Services dropped about 3% each, which pulled the whole IT group down.
Even though they fell, the IT sector still made a big gain of 16% for the month, the best in six years.
The drop happened because investors were nervous about how AI trading was moving around the world.
Meanwhile, tech stocks in the U.S. and Asia were doing well, helped by Microsoft’s good earnings report and strong chip makers in South Korea.
Indian IT stocks fell 2.5% on July 31 after a five‑day rally, booking profits amid AI‑trade volatility.
Infosys and Tata Consultancy Services each dropped nearly 3%, dragging the IT index down.
The IT sector still posted a 16% gain for July, its biggest monthly rise in six years.
Global tech rally helped by Microsoft’s optimistic earnings outlook, with shares up over 15% in the U.S.
Asian markets gained, with the MSCI Asia Pacific Index up 4.3% and South Korea’s Kospi surging 17% on chipmaker gains.
- Who
- Indian IT companies such as Infosys and Tata Consultancy Services
- What
- IT stocks fell 2.5% after a five‑day rally amid AI‑trade volatility
- When
- July 31, 2023
- Where
- India and broader Asian markets
- Why
- Profit booking and volatility in global AI trade
- Date
- July 31, 2023
- Sector
- Indian IT stocks
- Index decline
- 2.5%
- July gain
- 16%
- Major losers
- Infosys, Tata Consultancy Services
- Global tech rally driver
- Microsoft earnings outlook
- MSCI Asia Pacific Index rise
- 4.3%
- Kospi rise
- 17%