While Tech Mahindra (down 4.1 per cent), Info Edge (India) (down 3.46 per cent), Mindtree (down 3.45 per cent), Coforge (down 3.36 per cent) and Tata Consultancy (down 3.03 per cent) were the top losers in the index.
The Nifty IT index was trading 2.55 per cent down at 24853.75 around 01:43PM.
Benchmark NSE Nifty50 index was down 245.55 points at 14736.2, while the BSE Sensex was down 927.51 points at 49962.25.
Among the 50 stocks in the Nifty index, 9 were trading in the green, while 41 were in the red.
Shares of Vodafone Idea, PNB, IDFC First Bank, Central Bank of India and Bank of Baroda were among the most traded shares on the NSE.
Shares of Hind Copper, Ratnamani Metal, Vaibhav Global, Varun Beverages and Aditya Birla Capital hit their fresh 52week high in today’s trade.