IT stock valuations may already reflect AI disruption risk: analyst

The sharp 25% decline in the Nifty IT index during 2026 may have already incorporated much of the valuation risk posed by artificial intelligence disruption, according to market analysts. Chintan Haria of ICICI Prudential AMC believes selective opportunities remain in companies positioned to benefit from key technology trends. These include data engineering, cloud migration, legacy system modernisation, and AI integration services—areas where Indian IT firms can add value.