Nifty IT slips over 3% on profit booking; HCL Tech, Mindtree down over 5%

Thus far in the financial year 2020-21, the IT index has outperformed the market by surging 74%, as compared to a 38% rise in the Sensex till Wednesday.

Shares of information technology (IT) companies came under selling pressure on Thursday, with Nifty IT and S&P BSE IT indices slipping over 3 per cent on profit booking.

HCL Technologies, Mindtree, and Persistent Systems were down more than 5 per cent each at the bourses. Tech Mahindra, Mphasis, and Coforge were down 4 per cent, while Infosys, Wipro, Tata Consultancy Services (TCS), and Larsen & Toubro Infotech were down between 2 per cent and 3 per cent.

At 02:26 pm, Nifty IT and S&P BSE IT indices, were down 3.3 per cent, as compared to a 2 per cent decline in the