While Mindtree (down 5.03 per cent), Coforge (down 3.94 per cent), Info Edge (India) (down 3.91 per cent), Tech Mahindra (down 3.72 per cent) and HCL Technologies (down 3.63 per cent) were the top losers in the index.
The Nifty IT index was trading 2.74 per cent down at 21596.4 around 01:09PM.
Benchmark NSE Nifty50 index was down 118.05 points at 11853.0, while the BSE Sensex was down 458.07 points at 40336.67.
Among the 50 stocks in the Nifty index, 20 were trading in the green, while 30 were in the red.
Shares of Vodafone Idea, Ashok Leyland, Tata Motors, YES Bank and Infosys were among the most traded shares on the NSE.
Shares of Oracle Fin, SBI Cards, Asian Paints, Hero MotoCorp and Lakshmi Machine hit their fresh 52 week high in today’s trade, while Mittal Life Style Ltd., Vikas Proppant & Granite Ltd., Sumit Woods Ltd., AB Infrabuild Ltd., Som Distilleries & Breweries Ltd., Coal India Ltd., Motor & General Finance Ltd., Twentyfirst Century Management Services Ltd., Uniply Industries Ltd. and Shrenik Ltd. hit fresh 52 week low in trade.