Why Nifty IT index fell 2% after two straight sessions of lifetime highs?

Quick Summary:

The weakness and profit booking in the IT stocks came after two consecutive days of the Nifty IT index hitting lifetime highs and making a new summit at 44,330.

Other IT stocks such as LTIMindtree, Mphasis, Wipro, Persistent Systems, TCS and Coforge also fell in the range of 1-2 per cent each.

Tech Mahindra shares also fell 2.84 per cent at Rs 1,706.80 a piece, while HCL Tech slipped to day’s low of Rs 1,849, down 2.2 per cent in intraday trade.

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Category: BusinessFinance

Markets: India

Topics: Stocks in focus IT stocks Coforge Hcl tech Ltts Buzzing stocks Tech mahindra IT shares Wipro Persistent Systems Nifty IT index Mphasis Infosys LTIMindtree TCS

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-28 @ 11:59:42 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 557 words

Reading Time: 4 minutes read

Sentences: 21 lines

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Copyright Owner: © Business Standard

News ID: 23914234

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