IT Stocks Get a Breather, But February Still Turns Brutal IT stocks paused on Wednesday, February 25, after a rough month driven by concerns that AI could pressure India’s labour-heavy IT services model. Nifty IT is down ~21% in February so far, headed for its worst monthly fall in nearly 23 years. Since IT has 10%+ weight in key indices, the broader market has also felt the drag. The selloff has hit big holders too: Mutual Funds and LIC have seen portfolio value erosion of over ₹1 lakh crore due to their exposure across Nifty IT names.