Shares of Indian IT companies, including heavyweights Infosys and HCLTech, fell up to 3% on Thursday, emerging as the top losers on the Sensex and Nifty. Investor sentiment was weighed down by rising US inflation, expectations of prolonged higher interest rates by the Federal Reserve, and concerns over global demand.
The Nifty IT index crashed nearly 3% to 27,519 before paring some losses today. LTI Mindtree shares plunged nearly 3%, while Infosys and HCL Tech shares dropped nearly 2% each, as seen at 11.55 am. Mphasis, Tata Consultancy Services (TCS) and OFSS shares fell around 1% each, while Wipro, Persistent Systems, Tech Mahindra and Coforge shares were trading with marginal losses.
