On Thursday, the stock market witnessed a decline primarily due to significant drops in IT company shares. Major Indian IT stocks such as Infosys, TCS, Wipro, and HCL Tech suffered considerable losses, with declines reaching up to 5%. This downturn led to an overall decrease of ₹100,372 crore in market capitalization across these five companies, leaving considerable impacts on investor sentiment and market stability.

More specifically, Infosys shares fell by 5.18%, reaching a low of ₹1,396 per share, while TCS shares dropped by 4.58% to ₹2,776. HCL Tech shares decreased by 4.55%, and Wipro's stocks fell by 3.76%. The overall market capitalization for these companies during intraday trading was recorded at ₹2,37,128.5 crore, compared to ₹2,47,165.6 crore the previous day, making the impact of this decline quite significant for the sector.

The reasons behind this stock market downturn are partly linked to the decline seen in the American markets overnight, where American Depository Receipts (ADRs) for companies like Infosys, Wipro, and Cognizant fell by as much as 5%. Such fluctuations reflect broader economic conditions and concerns regarding the stability of IT stocks, which are crucial to the Indian economy.