TCS Stock Price Recovers as IT Shares Gain After Wednesday’s Sell-Off

Tata Consultancy Services (TCS) shares recovered in early trading on Thursday, October 29, after falling on Wednesday amid weakness in Indian IT stocks. TCS declined around 2% to close at ₹2,460 on Wednesday, while the Nifty IT index fell more than 3%. Selling followed renewed concerns about artificial intelligence disruption, profit booking in IT shares and uncertainty ahead of the US Federal Reserve’s policy decision. Rising crude oil prices and concerns over foreign investor outflows also weighed on market sentiment. On Thursday, IT stocks gained around 0.5% in early trade after the Fed kept interest rates unchanged.

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