Quick Wrap: Nifty IT Index registers a drop of 5.62%, NIFTY Crashes 4.00%

Nifty IT index closed down 5.62% at 12045.85 today. The index has lost 22.00% over last one month. Among the constituents, Tech Mahindra Ltd fell 9.60%, Mindtree Ltd dropped 9.07% and Tata Consultancy Services Ltd shed 6.43%. The Nifty IT index has decreased 25.00% over last one year compared to the 29.53% fall in benchmark Nifty 50 index. In other indices, Nifty Bank index has slid 4.89% and Nifty Private Bank index has dropped 4.80% on the day. In broad markets, the Nifty 50 has slid 4.00% to close at 8253.8 while the SENSEX has declined 4.08% to close at 28265.31 today.

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