HCL Tech, Infosys hit 52-week lows in 2026 selloff

Selling pressure drags frontline IT stocks

Indian IT stocks saw sharp selling as HCL Technologies and Infosys hit their respective 52-week lows amid renewed growth concerns. In Tuesday’s intra-day trade on the BSE, both stocks slipped further after a weak week for the sector. HCL Technologies fell as much as 3% to ₹1,193, while Infosys was down nearly 2% to ₹1,149.80. The declines extended a broader drawdown in tech counters that has outpaced the benchmark.

The weakness was not limited to a single stock-specific trigger, with multiple reports pointing to sector-wide de-risking. In the past five trading days, the BSE Sensex and the BSE IT index were down 2% and 6%, respectively. The underperformance highlighted how investors have been treating IT as a source of risk reduction during volatile sessions.

HCL Technologies, Infosys: what moved on the day

HCL Technologies fell up to 3% in intra-day trade to ₹1,193, and one report noted that the stock had tanked 17% over the past week. Infosys fell nearly 2% to ₹1,149.80, and was reported to have slipped 12% over the past week. Elsewhere in the same market context, there were also sessions where HCL Technologies was cited as falling 10.67% to ₹1,287.7 at 14:47 IST, with heavy volumes.

Market data snippets also showed differing reference points for HCL’s 52-week low in recent weeks. One update cited a 52-week low of ₹1,275.7 (dated 16 March 2026), while another cited ₹1,275.7 as of 21 April 2026 and ₹1,198.10 as the 52-week low in a 52-week range tracker. The stock’s 52-week high was cited at ₹1,780.10, with another record-high reference of ₹1,770 on 03 February 2026.

IT indices slide as the selloff broadens

The decline extended to the broader IT pack, with index-level pressure evident across multiple sessions. The Nifty IT index was cited as dropping 4.12% to 30,422 in one market update. Another update showed the Nifty IT index declining 3.30% to 30,681.75.

A separate report noted the Nifty IT index falling 1,675 points, or 5.3%, to 29,875, described as a fresh 52-week low. The BSE Information Technology index was also reported down 3.02% at 29,710.42, even as it was cited to be up 5.78% over the last month. These readings together reflected a sharp risk-off tone concentrated in technology.

Peer stocks in the red: Tech Mahindra to Wipro

The selloff was broad-based. In one snapshot, Tech Mahindra declined 5.57%, Coforge dropped 5.40% and Persistent Systems slipped 4.59%. Infosys fell 4.17%, while L&T Technology Services declined 3.34% and TCS lost 2.78%.

Mphasis fell 2.32%, while Wipro saw a relatively smaller decline of 0.83% in the same window. Another market monitor also showed HCL Technologies down 8.99%, Persistent Systems down 3.51%, Coforge down 3.2%, Infosys down 2.7%, Tech Mahindra down 2.59%, LTIMindtree down 1.95%, TCS down 1.55%, Mphasis down 1.25% and Wipro down 0.32%.

Growth guidance and AI disruption fears in focus

A key trigger highlighted in the reports was HCL Tech’s FY27 revenue growth guidance of 1% to 4% in constant currency, which was described as below market expectations. That guidance was cited as spooking markets and weighing on the IT pack.

Alongside guidance concerns, some commentary linked the volatility to fears that AI tools could disrupt traditional IT services demand. One report referenced Anthropic’s blog post stating its ‘Claude Code’ tool can modernise decades-old COBOL software, and another cited concerns around a next-generation AI agent called ‘Claude Cowork’ capable of autonomous execution. The common thread in these reports was investor uncertainty on how quickly automation could affect outsourcing-led revenue models.

Macro headwinds: yields, Fed expectations and flows

The weakness was also connected to broader market conditions. Commentary cited elevated US bond yields and delayed Federal Reserve rate-cut expectations after strong jobs data. It also referenced FPI outflows and valuation compression in growth stocks.

Taken together, these factors have often pressured IT shares because the sector is sensitive to global tech sentiment and changes in risk appetite. Some narratives also pointed to weakness in global technology stocks, including the US Nasdaq, as a contributing factor.

Volume spikes and technical levels investors are watching

One BSE trading update cited HCL Technologies as the biggest loser in the BSE’s ‘A’ group in that session, with 17.31 lakh shares traded versus an average daily volume of 1.95 lakh shares over the past month. Another snapshot cited 2.5 lakh shares traded versus an average of 1.98 lakh shares in the past month. The higher volumes indicated aggressive repositioning rather than a quiet drift lower.

Technical commentary in the market reports pointed to bearish chart structures and a shift toward “sell-on-rise” approaches. One analyst view cited that the Nifty IT index had corrected 22% from its recent peak in nine trading sessions, while another noted support and resistance reference levels for the index and key stocks.

Key facts at a glance

Why the move matters for investors

The fall to 52-week lows in large-cap IT names matters because the sector is widely held across index and mutual fund portfolios. When frontline names such as HCL Technologies and Infosys decline sharply, they can influence both sector indices and broader market sentiment.

The combination of weaker growth guidance, global risk-off cues, and AI-related uncertainty has created a challenging setup for IT stocks in the near term. Investors are also watching whether heavy selling and high volumes represent a one-off capitulation or the start of a longer de-rating phase. The next set of management updates and index behaviour around key levels referenced by analysts are likely to stay in focus.

What to watch next

Near-term attention remains on how the Nifty IT index behaves after testing lower levels cited across reports, and whether global tech sentiment stabilises. Investors will also track follow-through commentary after HCL Tech’s FY27 constant-currency growth guidance of 1% to 4% and any further company-level updates. With IT stocks moving sharply in short windows, day-to-day moves in global yields, Fed expectations, and institutional flows are likely to continue influencing sector pricing.