IT shares trade weak; TCS, Infosys down over 2%

TCS, Infosys and Tech Mahindra had rallied between 10% and 14% in 14 trading sessions till Tuesday

Shares of information technology (IT) stocks were trading weak with the sector majors Tata Consultancy Services (TCS) and Infosys were down 2% each on the National Stock Exchange (NSE) on profit booking.

At 2:26 pm; the Nifty IT index, the largest loser among sectoral indices, was down 1.3% as compared to 0.2% decline in the Nifty 50 index.

Since February 1, 2017, IT index had outperformed the market by surging 9.5% against 2.2% rise in the benchmark index till Tuesday. TCS, Infosys Tech Mahindra and Oracle Financial Services had rallied between 10% and 14% during the period.

Among