Information technology (IT) stocks emerged as the biggest gainers on Friday, with the Nifty IT index surging over 4% to lead market gains and add Rs 70,000 crore to its total market capitalisation, shrugging off US President Donald Trump’s suspension of the Permanent Labor Certification Program.
The US Department of Labor also said it would stop accepting or processing new applications from Cognizant, Infosys, Capgemini, Wipro, TCS and HCLTech. Labor Secretary Keith Sonderling said these companies had sought nearly three million foreign workers since 2009, securing more than 230,000 H-1B visa approvals and over 100,000 permanent labor certifications.
