How did HCLTech lead to 4% fall in IT stocks on April 22?

The Nifty IT index fell nearly 4% on Wednesday amid a broad sell-off. HCLTech was the biggest loser (down 10.74%) as its ₹4,488-crore net income for Q4 FY26 fell short of expectations, and the company slashed its revenue growth guidance for FY27. The weak outlook dragged the sector lower as it raised concerns over subdued global demand for IT services.