Saturday, March 07
Indian mutual fund managers were seen retreating from the technology sector, dumping stakes in 9 out of 10 major IT stocks in January as fears mounted that artificial intelligence will permanently disrupt the outsourcing model that built the $250 billion industry.Mutual funds held Rs 395,404 crore worth of IT stocks as of January 2026, down from their December exposure of Rs 397,310 crore, as relentless selling gripped the sector, according to data from Prime Database. Oracle Financial Services Software (OFSS), Wipro, TCS and Coforge have all crashed at least 30% from 52-week highs, while Infosys is down 27% and HCL Tech has shed 18%.ICICI Prudential Asset Management Company led the exodus, offloading an estimated Rs 1,953 crore in Infosys alone during the month, according to the data. The
