IT stocks, led by Wipro, today fell by as much as 4 per cent as the Indian rupee further strengthened its value against the US dollar.
The rupee has gained nearly 35 paise in the last three trading sessions.
Shares of Wipro declined 3.96 per cent to close at Rs 273.90 on the BSE.
The stock was the worst hit among the 30-Sensex components.
Infosys fell by 1.13 per cent, Hexaware Technologies 0.77 per cent, Tech Mahindra 0.68 per cent and TCS 0.12 per cent.
The BSE IT index lost 0.68 per cent to end at 12,092.47.
A weaker rupee is largely seen as positive for export-focussed sectors.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app