IT stocks under pressure amid global sell-off; Infosys, Wipro down 2%

Nifty IT index was down 1.2% as compared to a 0.45% decline in the Nifty 50 index in the early trade.

Shares of information technology (IT) companies were under pressure with Nifty IT index falling over 1% on Tuesday after Wall Street’s all major indices slid more than 2% on Monday, amid concerns about slowing economic growth ahead of a highly anticipated decision from the Federal Reserve on the course of US interest-rate hikes. The FOMC is scheduled to meet on Tuesday and Wednesday.

Infosys, Mindtree and Wipro were down 2% each, while NIIT Technologies, Tech Mahindra and Tata Consultancy Services (TCS) trading lower 1% each on the National Stock Exchange (NSE).

At 09:38 am; Nifty IT index was