India’s Nifty IT Index fell 1% to 36,003.15 points, dragged down by weakness in major tech stocks amid global demand concerns and currency volatility. The broader Nifty 50 also slipped 0.41%. Analysts highlight U.S. rate expectations and oil price swings as key drivers of near-term market caution.
India’s Nifty IT Index slipped sharply in Tuesday’s trade, closing down 1.02% at 36,003.15 points, marking a decline of 372.05 points from the previous close of 36,375.20. The fall highlights investor caution in the technology sector amid global macroeconomic pressures.
Key highlights from the market update:
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The Nifty IT index dropped 1%, led by weakness in heavyweight stocks such as Infosys, TCS, and Wipro.
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Concerns over global demand slowdown and currency fluctuations weighed on sentiment, particularly impacting export-driven IT firms.
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Broader markets also reflected mixed trends, with the Nifty 50 index slipping 0.41%, while FMCG and pharma sectors offered some resilience.
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Analysts point to U.S. interest rate expectations and crude oil volatility as external factors influencing investor mood.
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Despite the decline, the index remains above the 36,000 mark, suggesting medium-term resilience, though near-term volatility is expected.
This downturn underscores how sector-specific weakness in IT can ripple across the broader market, reminding investors of the importance of diversification and vigilance in volatile conditions.
Sources: Reuters, NSE India, Livemint