Indian software and IT service providers extended their losses during Tuesday's early trading session, influenced by market concerns over the industry's impact from artificial intelligence, which also dragged down US technology stocks.
Sector leader Tata Consultancy Services (TCS) saw a decline of up to 2.8%, while Infosys dropped by 3.2%.
Among the ten constituent stocks of India's Nifty IT index, all but one fell by at least 2%. The index itself dropped by as much as 2.7%, potentially reaching its lowest level since November 2023.
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