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Nifty IT slips nearly 5% in a bearish market; Tech M, Infosys fall up to 6%

In the past eight days, the Nifty IT index has slipped 10 per cent, as compared to 4 per cent decline in the Nifty 50 index

Nifty IT index slips nearly 5%; Tech Mahindra, Infosys, TCS fall up to 6%
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SI Reporter Mumbai
Shares of information technology (IT) companies fell up to 6 per cent on the National Stock Exchange (NSE) in Monday's intra-day trade after the US Federal Reserve Chairman Jerome Powell said that higher inflation is likely to inflict pain across households and businesses.

 At 09:23 am, the Nifty IT index was the top loser among sectoral indices, and was down 4.5 per cent, as compared to 2 per cent decline in Nifty 50. Meanwhile, in the past eight days, the index has slipped 10 per cent, as compared to 4 per cent decline in the Nifty 50 index.

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First Published: Aug 29 2022 | 10:11 AM IST

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