Mumbai, February 12, 2026 – Indian benchmarks slipped on Wednesday, with Nifty down 0.5% to 25,400 and Sensex declining 0.6% to 83,100, pressured by weak Q3 earnings from IT sector amid renewed FII outflows (₹2,000 Cr net sell). The Nifty IT index cratered 5.51% to 33,160.20, led by sharp drops in Persistent (down 4.70% to ₹5,455 on margin squeezes), Ofss (sliding 6.35% to ₹6,759 amid software woes), and Techm (falling 6.40% to ₹1,529.80 on export delays). This extends February's volatility, dragging the index amid global yield concerns and rural demand slowdown.
The losses highlight sector rotation away from tech, with volumes average and decliners leading 1.5:1. Analysts eye potential rebounds if PMI data beats estimates next week, targeting Nifty 25,600 resistance.
Top Nifty IT Losers (Sorted by % Decline)
Snapshot of the day's biggest drags, per BSE/NSE data (as of Feb 12 close):
| Rank | Symbol | Open (₹) | High (₹) | Low (₹) | Prev. Close (₹) | LTP (₹) | % Change | Volume (Lakhs) | Value (₹ Cr) |
|---|---|---|---|---|---|---|---|---|---|
| 1 | COFORGE | 1,500.00 | 1,501.00 | 1,412.30 | 1,520.40 | 1,419.90 | -6.61 | 530.26 | 760.84 |
| 2 | TECHM | 1,605.00 | 1,611.00 | 1,528.00 | 1,634.40 | 1,529.80 | -6.40 | 534.30 | 832.05 |
| 3 | OFSS | 7,165.00 | 7,184.50 | 6,731.50 | 7,217.50 | 6,759.00 | -6.35 | 3.70 | 254.75 |
| 4 | PERSISTENT | 5,650.00 | 5,659.00 | 5,431.00 | 5,724.00 | 5,455.00 | -4.70 | 5.26 | 289.20 |
Key Spotlights:
- Coforge's Tech Tumble: Tanked 6.61% to ₹1,419.90, shedding ₹761 Cr in value on export delays—volumes spiked.
- Techm's Margin Miss: Down 6.40% to ₹1,529.80 amid chip shortage, losing ₹832 Cr; sector pain point.
- Ofss's Software Slump: Slid 6.35% to ₹6,759.00 on Q3 guidance cut, wiping ₹255 Cr.
- Persistent Pressure: Fell 4.70% to ₹5,455.00, extending losses on IT spending slowdown.
