IT shares under pressure, HCL Tech down 5%

The BSE IT index was down over 5% from its 52-week high of 8,765 touched on October 15.

Shares of information technology (IT) companies are under pressure falling up to 5% on the bourses on profit booking.

HCL Technologies, Wipro, Tata Consultancy Services (TCS) and Polaris Financial Technology are down 3-5% on the Bombay Stock Exchange (BSE).

The BSE IT index the largest loser among sector indices was down nearly 2% or 143 points at 8,322 points compared to 0.16% fall in benchmark S&P BSE Sensex at 1520 hours.

IT index hit low of 8,290 during intra-day trades, has decline 5.4% from its 52-week high of 8,765 touched on October 15 this year.