FIIs offload ₹10,956 crore worth of IT stocks in early February

Foreign institutional investors (FIIs) sold over ₹10,956 crore worth of IT stocks in the first half of February, extending their selling streak. Since January 20, TCS has declined 13.5%, Infosys 18.4%, HCL Technologies 15%, and Wipro 12.5%, amid increasing concerns about AI. According to a JP Morgan report, the sector is likely in the third year of below-par growth.