Mumbai: Shares of Tata Consultancy Services Ltd (TCS) witnessed sharp selling pressure on Tuesday, falling 3.82% to ₹2,574, down ₹102.30 during intraday trade. The decline wiped out over ₹100 per share in a single session, reflecting renewed weakness in frontline IT counters.
The stock opened on a soft note and remained under pressure throughout the trading session, slipping from levels near ₹2,676 to hover around the ₹2,580 mark before closing lower. Intraday charts indicated sustained selling with no meaningful recovery attempts, suggesting bearish sentiment dominating the counter.
Volume Spike Signals Institutional Activity
Trading volumes remained elevated at over 47.47 lakh shares, pointing toward possible institutional participation in the sell-off. Market participants indicated that continued caution in global IT spending and valuation concerns could be weighing on investor sentiment.
Broader IT Weakness Adds to Pressure
The decline in TCS comes amid cautious trends in the IT sector, where investors remain watchful of global macroeconomic cues, client discretionary spending, and margin outlooks. Any slowdown in large deal wins or commentary around revenue guidance tends to amplify volatility in heavyweight stocks like TCS.
Technical Outlook
From a technical standpoint, the stock appears to have slipped below short-term support levels, increasing the risk of further downside if selling persists. Analysts suggest immediate support may emerge near the ₹2,540–₹2,550 zone, while resistance is seen around ₹2,650.
Investor Takeaway
While long-term fundamentals of TCS remain intact given its strong operating cash flows and consistent profitability, near-term price action indicates caution. Investors may monitor global cues, quarterly commentary, and sectoral momentum before taking fresh positions.
