Mumbai, May 14 -- Weak global macroeconomic conditions and cautious enterprise spending also weighed on sentiment.

The Nifty IT index declined 2.25% to 27,289.20. The index has fallen 7.16% in four consecutive sessions and hit a 52-week low of 27,078 during the day.

Persistent Systems tumbled 4.69%, leading the losses. LTIMindtree fell 2.90%, while Tech Mahindra slipped 2.81%. Infosys declined 2.52%. Coforge and HCL Technologies dropped 2.28% and 2.26%, respectively.

Mphasis lost 1.84%, while Tata Consultancy Services and Oracle Financial Services Software declined 1.49% and 1.47%, respectively. Wipro bucked the trend and rose 0.18%.

Investor sentiment weakened after OpenAI announced the launch of the OpenAI Deployment Company, a new ...