US President Donald Trump on February 13 had announced reciprocal tariffs in a bid to reduce the US' trade deficit with other countries. This move is expected to make investors to move away from export-oriented stocks, including IT and pharma.

The Nifty IT index fell 600 points (-1.38%) to 40,890.10 on Feb 19, with export-focused IT firms facing major losses.

Trump’s reciprocal tariffs, starting in April, may push investors away from export-driven stocks like IT & pharma.

LTI Mindtree dropped 3.46% to Rs 5,472 as of 1:32 PM, making it the biggest loser in the IT index.

TCS declined 2.63% to Rs 3,771, hitting an 8-month low, close to its 52-week low of Rs 3,591.50.

Infosys fell 2% to Rs 1,816, down 9% from its 52-week high of Rs 2,006, which it reached in Dec 2024.

L&T Tech, HCL Tech & Tech Mahindra saw losses of nearly 1%, adding to the overall IT sector decline.

With high US revenue, Indian IT firms face pressure as investors react to tariffs and increasing market volatility.