Economy
Nifty IT Index Plunges Over 1% on Fed Rate Hike Fears
Moneycontrol2h
THE BRIEF
1
The Nifty IT index fell by over 1% as major stocks including Infosys, Tech Mahindra, and HCL Tech led the decline in Monday's session.
2
The sell-off was triggered by renewed concerns over U.S. Federal Reserve interest rate hikes, which have dampened sentiment for technology-heavy portfolios.
3
Analysts note that the IT sector is facing headwinds as global economic uncertainty persists, prompting investors to re-evaluate their positions in large-cap tech firms.