Wipro is trading at $1.89 (7.6% down) in pre-market, giving back a portion of its recent gains following a strong rally across the software sector.
- The stock previously closed at $2.05 on August 03, 2026, after a 4% move higher driven by broad strength in cloud and software equities.
- The decline follows news that Meta will reduce its outsourced work with Wipro, a move expected to trim approximately $25 million from the company's annual revenue.
- The current price action suggests a correction as the market re-evaluates the impact of the Meta contract reduction, which was previously offset by sector-wide gains.