Wipro Hits Six-Year Low as IT Sector Slumps, Faces Nifty 50 Exit

Wipro shares fell to their lowest level in six years on Tuesday as a broad downturn swept the Indian IT services sector. [11]

Infosys and Tata Elxsi were among other major IT firms that hit 52-week lows during the session. [7, 14]

Wipro will be removed from the benchmark Nifty 50 after trading closes on September 29, with BSE Ltd set to take its place. [13]

The change is expected to trigger passive investment outflows of about $152 million, adding pressure on Wipro shares.