New Delhi, Feb. 25 -- IT stocks witnessed a breather on Wednesday, February 25, in an otherwise tumultuous month for the tech stocks, which have been rocked by the fears of artificial intelligence weighing on the labour-intensive Indian IT software industry.

The Nifty IT index has plunged 21% in February so far, and is poised for its worst monthly performance in nearly 23 years. This has also weighed on the performance of the Indian stock market's benchmark index, as the IT companies command over 10% weightage.

The impact of this selloff is also visible in the portfolios of mutual funds and Life Insurance Corporation of India, which hold significant stakes in all Nifty IT constituents.

All 10 Nifty IT stocks have lost between 17-27% th...