Major Indian technology stocks, including Wipro, MTAR Technologies, and Netweb Technologies, saw notable declines during early trading on Monday, June 8, 2026, amidst a broader market downturn. The falls contributed to a challenging session for investors.
Wipro Shares Hit by Buyback Ex-Date
IT giant Wipro's shares slipped 6% to Rs 187.10 on the BSE, extending losses for a second consecutive session. The decline followed the stock turning ex-record date for the company's substantial Rs 15,000 crore share buyback. This correction brought Wipro's market capitalization down to Rs 1.97 lakh crore and pushed its stock close to its 52-week low of Rs 186.50 recorded on March 30, 2026.
MTAR and Netweb Technologies Also Decline
Other technology firms also faced pressure. Netweb Technologies shares fell 4.61% to Rs 4450, down from its previous close of Rs 4665.30. The company's market cap dropped to Rs 25,754.84 crore. Similarly, MTAR Technologies stock experienced a significant drop, falling 7.83% to Rs 6950 in early deals, reducing its market capitalization to Rs 21,995 crore. MTAR's stock had hit a 52-week high of Rs 8447.95 on May 22, 2026.
Broader Market Weakness
The individual stock declines occurred within a context of wider market weakness. At 10:50 AM IST, the Sensex was trading down 502 points, or 0.68%, at 73,740. The Nifty also saw a fall of 169 points, or 0.73%, to 23,199. This mirrored a broader trend in Asian markets, where indices like Korea's Kospi and Japan's Nikkei also experienced significant falls, some by up to 8%.