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Business News/ Photos / 2022 review: Nifty IT among worst performing indices; Wipro, MPhasis fall most

2022 review: Nifty IT among worst performing indices; Wipro, MPhasis fall most

11 Photos . Updated: 31 Dec 2022, 01:11 PM IST Livemint

IT stocks had a rough stride in 2022. The upward trajectory of tech stocks turned into a downward slope after the economies began to reopen this year. Wipro, LTI Mindtree and Tech Mahindra stocks fell over 40% each. Know about the performance of major IT stocks in 2022:

Tech stocks had run up since the breakout of the coronavirus pandemic, but the tide turned against them in 2022, especially in the second half as experts started to predict a slowdown in the US. Nifty IT has become one of the worst performing sectoral index on NSE this year. The Nifty IT Index fell 26.7% from 38,752.60 on January 3, 2022 to 28,408.30 on December 29, 2022. Several tech firms like Wipro, LTI Mindtree and Tech Mahindra witnessed more than 40% fall each in their share price in 2022. Take a look at the performance of major IT stocks in 2022: (Bloomberg)

1/11Tech stocks had run up since the breakout of the coronavirus pandemic, but the tide turned against them in 2022, especially in the second half as experts started to predict a slowdown in the US. Nifty IT has become one of the worst performing sectoral index on NSE this year. The Nifty IT Index fell 26.7% from 38,752.60 on January 3, 2022 to 28,408.30 on December 29, 2022. Several tech firms like Wipro, LTI Mindtree and Tech Mahindra witnessed more than 40% fall each in their share price in 2022. Take a look at the performance of major IT stocks in 2022: (Bloomberg)

NIFTY IT has been one of the worst performing sectoral indices in 2022, according to an NSE report dated November 30, 2022. NIFTY IT had fallen more than 10% till November. Other sectors that performed poorly during the same period were NIFTY Pharma, NIFTY Realty, NIFTY MidSmall IT & Telecom. On the other hand, NIFTY PSU Bank has remained the star performer till November, growing more than 50 %. (NSE)

2/11NIFTY IT has been one of the worst performing sectoral indices in 2022, according to an NSE report dated November 30, 2022. NIFTY IT had fallen more than 10% till November. Other sectors that performed poorly during the same period were NIFTY Pharma, NIFTY Realty, NIFTY MidSmall IT & Telecom. On the other hand, NIFTY PSU Bank has remained the star performer till November, growing more than 50 %. (NSE)

Wipro: Its share value fell about 45% YTD. Its current market price stood at <span class='webrupee'>₹</span>392.30 on BSE on Friday. The company shares touched their 52-week high of <span class='webrupee'>₹</span>726.70 on January 3, 2022 and 52-week low of <span class='webrupee'>₹</span>372.40 on October 17, 2022.  Wipro has 8.1% weight on Nifty IT. (BSE)

3/11Wipro: Its share value fell about 45% YTD. Its current market price stood at ₹392.30 on BSE on Friday. The company shares touched their 52-week high of ₹726.70 on January 3, 2022 and 52-week low of ₹372.40 on October 17, 2022.  Wipro has 8.1% weight on Nifty IT. (BSE)

MPhasis: Its shares have fallen by 41.63% YTD. The company earned a net profit of <span class='webrupee'>₹</span>333.31 crore in September quarter. Its CMP stood at <span class='webrupee'>₹</span>1975.21 on BSE on Friday. MPhasis’ shares touched the 52-week peak value of <span class='webrupee'>₹</span>3476.60 on 3 January and 52-week low of <span class='webrupee'>₹</span>1897.35 on 19 December. The company holds 3.92% of NIFTY IT’s share. (BSE)

4/11MPhasis: Its shares have fallen by 41.63% YTD. The company earned a net profit of ₹333.31 crore in September quarter. Its CMP stood at ₹1975.21 on BSE on Friday. MPhasis’ shares touched the 52-week peak value of ₹3476.60 on 3 January and 52-week low of ₹1897.35 on 19 December. The company holds 3.92% of NIFTY IT’s share. (BSE)

Persistent Systems Limited: Its share value has fallen by 19.77% YTD and currently stood at a value of <span class='webrupee'>₹</span>3870.80 on BSE on Friday. It earned <span class='webrupee'>₹</span>175.1 crore of net profit in September quarter. Its shares reached their 52-week high value of <span class='webrupee'>₹</span>4986.85 on 3 January and touched their 52-week low value of <span class='webrupee'>₹</span>3091.65 on 26 October. The company holds 4.92% of NIFTY IT’s share (BSE)

5/11Persistent Systems Limited: Its share value has fallen by 19.77% YTD and currently stood at a value of ₹3870.80 on BSE on Friday. It earned ₹175.1 crore of net profit in September quarter. Its shares reached their 52-week high value of ₹4986.85 on 3 January and touched their 52-week low value of ₹3091.65 on 26 October. The company holds 4.92% of NIFTY IT’s share (BSE)

L&T Technology: Its share value has depleted by 35.16% YTD. Its CMP was <span class='webrupee'>₹</span>3689.05 on BSE on Friday. It's shares reached a 52-week high mark of Rs. 5958.10 on 1st January, 2022 and 52- week low of <span class='webrupee'>₹</span>2,923.35 on 4 July. It holds 2.46% share in Nifty IT’s share.  (BSE)

6/11L&T Technology: Its share value has depleted by 35.16% YTD. Its CMP was ₹3689.05 on BSE on Friday. It's shares reached a 52-week high mark of Rs. 5958.10 on 1st January, 2022 and 52- week low of ₹2,923.35 on 4 July. It holds 2.46% share in Nifty IT’s share.  (BSE)

Coforge: Its stock value has depleted by 34% YTD. Its current share market price stood at Rs. 3861.30 on BSE on Friday. Its shares touched a 52-week high of <span class='webrupee'>₹</span>6133 on 4 January and a 52-week low of <span class='webrupee'>₹</span>32100 on 19 September. The tech firm has around 3.5% share in the Nifty IT’s share. (BSE)

7/11Coforge: Its stock value has depleted by 34% YTD. Its current share market price stood at Rs. 3861.30 on BSE on Friday. Its shares touched a 52-week high of ₹6133 on 4 January and a 52-week low of ₹32100 on 19 September. The tech firm has around 3.5% share in the Nifty IT’s share. (BSE)

TCS: Its share value has dropped by 13.83% YTD. Its CMP stood at <span class='webrupee'>₹</span>3259 on BSE on Friday. Its shares reached a 52-week high of <span class='webrupee'>₹</span>4,045.50 on 18 January and a 52-week low of <span class='webrupee'>₹</span>2926 on 26 October. Giant tech firm holds a whopping 26.39% shares in Nifty IT’s share. (BSE)

8/11TCS: Its share value has dropped by 13.83% YTD. Its CMP stood at ₹3259 on BSE on Friday. Its shares reached a 52-week high of ₹4,045.50 on 18 January and a 52-week low of ₹2926 on 26 October. Giant tech firm holds a whopping 26.39% shares in Nifty IT’s share. (BSE)

Infosys: Its stock value has dropped by 19.75% YTD. Its CMP stood at 1508.70 on BSE on Friday. It reached its 52-week high of <span class='webrupee'>₹</span>1953.70 on 17 January and a 52-week low of <span class='webrupee'>₹</span>1355.50 on 26 September. It holds a maximum 27.56% share in Nifty IT’s share. (BSE)

9/11Infosys: Its stock value has dropped by 19.75% YTD. Its CMP stood at 1508.70 on BSE on Friday. It reached its 52-week high of ₹1953.70 on 17 January and a 52-week low of ₹1355.50 on 26 September. It holds a maximum 27.56% share in Nifty IT’s share. (BSE)

LTI Mindtree: Its stock value dropped by 41.56% YTD. Its CMP stood at <span class='webrupee'>₹</span>4360.50 on BSE on Friday. Its share price reached a 52-week high of <span class='webrupee'>₹</span>7595.25 on 4 January and a 52-week low of <span class='webrupee'>₹</span>3733.25 on 26 May. The tech firm holds 5.17% of NIFTY IT share. (BSE)

10/11LTI Mindtree: Its stock value dropped by 41.56% YTD. Its CMP stood at ₹4360.50 on BSE on Friday. Its share price reached a 52-week high of ₹7595.25 on 4 January and a 52-week low of ₹3733.25 on 26 May. The tech firm holds 5.17% of NIFTY IT share. (BSE)

HCL Tech: Its share value has depleted by 21.61 % YTD. Its CMP stood at <span class='webrupee'>₹</span>1039 on BSE on Friday. It reached a 52-week high of <span class='webrupee'>₹</span>1359.00 on 13 January and a 52-week low of <span class='webrupee'>₹</span>875 on 29 August.The company holds an 8.35% share of Nifty IT’s share. (BSE)

11/11HCL Tech: Its share value has depleted by 21.61 % YTD. Its CMP stood at ₹1039 on BSE on Friday. It reached a 52-week high of ₹1359.00 on 13 January and a 52-week low of ₹875 on 29 August.The company holds an 8.35% share of Nifty IT’s share. (BSE)

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