IT stocks fall on rupee worries, valuations

Shares in Indian technology companies drop after the rupee rises to four-month highs, raising worries about the impact on overseas profits.

Valuations also play a role: Tata Consultancy Services drops 5% after hitting a record high of Rs 1,439.80 on Friday, when the shares had initially gained after the Fed's new asset purchase programme.

Infosys shares fall 2.6% after gaining 3 percent on Friday.