Nifty IT index hits four-month low; TCS, Infosys down 2%

Infosys, TCS, Tech Mahindra, Mphasis, L&T Infotech, HCL Technologies and Mindtree were down in the range of 11% to 28% in past one month.

Shares of frontline information technology (IT) companies were under pressure with the Nifty IT index hitting a four-month low on Friday. Tata Consultancy Services (TCS), Infosys and HCL Technologies from the Nifty IT index were trading lower in the range of 2% to 3% on the National Stock Exchange (NSE).

At 01:05 PM; Nifty IT index, the largest loser among sectoral indices, was down 1.7% at 13,835 points, as compared to 0.41% decline in the Nifty 50 index. The IT index hit an intra-day low of 13,820, its lowest level since June 25, 2018. It has fallen 15% from