Nifty IT Index: IT stocks crash up to 9% as HCL Tech Q4 results disappoint — Should you steer clear of the sector?AI Quick ReadShares of IT stocks fell like ninepins in the early morning trade on Wednesday, 22 April, after leading tech firm HCL Technologies' March-quarter results (Q4) and poor management commentary sparked a fresh sell-off in the sector.
IT stocks, already grappling with weak performance due to weak demand concerns and an AI-led scare, crashed up to 10%, dragging the Nifty IT index 3.35% lower to 30,665.35. HCL Tech shares emerged as the worst loser with a massive 9.7% decline.
Saloni Goel has over nine years of experience as a business journalist, with a strong track record of covering the financial markets. Over the course of her career, she has reported extensively on global and domestic equities, IPO market activity, commodities, and broader macroeconomic trends. Her reporting reflects a keen eye for detail, data-driven analysis, and the ability to spot emerging themes early.
At Mint, Saloni has been part of the markets team for nearly two years, where she currently works as Chief Content Producer. In this role, she plays a key part in shaping market coverage, driving editorial strategy, and ensuring timely, accurate, and insightful reporting across. She has been closely involved in breaking news coverage and in crafting stories that help decode the complex financial developments.
Before joining Mint, Saloni worked with some of India’s leading business newsrooms, including The Economic Times and Business Standard. Throughout her career, she has worn multiple hats—ranging from reporting and editing to contributing in-depth features and identifying new storytelling formats and market trends.
Her experience in fast-paced digital newsrooms has given her an edge in simplifying complex market concepts without losing analytical depth. Outside of work, Saloni enjoys reading books and spending time with her pet.