The Nifty IT index declined 2% in Tuesday’s trade led by Infosys
, HCL Tech
, and Tech Mahindra
. Appreciation in the Indian rupee
also kept the index under pressure.
The Indian rupee breached its crucial level of 71/$ and depreciated 21 paise to trade at 70.97/$. The domestic currency opened 3 paise lower at 71.21/$ compared to its previous close of 71.18/$. The appreciation was on the back of easing crude oil price in global markets and a marginal weakness in the dollar against its major peers.
Shares of Infosys, HCL Tech, TCS, and MindTree, which declined 2% each, were leading the index’s fall. Shares of Tech Mahindra
, Tata Elxsi
, and Wipro
also dropped 1% each.
Meanwhile, equity benchmark indices were trading on a flat note with the Sensex declining 15 points at 36,374 points. Nifty fell 3 points to trade at 10,885 levels.