Infosys shares have been going down for the past year, except for the last week of September 2022 to the end of November 2022, when they went up.
Infosys stock price started the day with a gap up, and it went on to hit a low of Rs1,382.90 during the day.
Experts in the stock market say that Indian IT stocks, especially large-cap leaders like Infosys, are under pressure to sell off after a string of bank crises in the US and the collapse of Credit Suisse in Europe.
Experts say that the US bank crisis will cause Indian IT companies to lose a lot of business in the next few quarters.
The stock may decline further in the short to medium term towards levels around 1,240 because the current 52-week low appears weak.
Following the war between Russia and Ukraine, IT stocks have been under pressure for more than a year.
Investors are advised by experts to keep their stop loss below the current 52-week low and to exit if Infosys' stock price rose.