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The Economic Times
The Economic Times
Nikhil Agarwal

Trump strikes Indian IT again! Why tech stocks lost Rs 55,000 crore in a single session

Donald Trump Cognizant India United States Anthony DEsposito Nikhil Agarwal Ravi Kumar S Cloudera SEBI

Indian technology stocks lost about Rs 55,000 crore in combined market value on Wednesday after the US suspended Cognizant’s permanent labour certification filings, reviving concerns over the impact of the Trump administration’s campaign against alleged visa fraud.

Infosys led the decline, falling more than 3%. Tech Mahindra, HCL Technologies and Persistent Systems dropped about 3% each, while TCS, Mphasis, Wipro and LTIMindtree declined around 2%.

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