Shares of nine IT companies fell by 0.06% to 2.7% at 13:42 IST on BSE after rupee appreciated against the US dollar.
Meanwhile, the S&P BSE Sensex was up 158.72 points, or 0.44% to 36,505.80. The S&P BSE IT index was down 204.22 points, or 1.41% to 14,249.20, underperforming the Sensex.
HCL Technologies (down 2.7%), Infosys (down 1.95%), Tech Mahindra (down 1.55%), Hexaware Technologies (down 1.46%), MphasiS (down 1.34%), TCS (down 1.07%), MindTree (down 1.01%), Persistent Systems (down 0.7%) and Oracle Financial Services Software (down 0.06%), edged lower. Wipro was up 0.55%.
A firm rupee adversely affects operating profit margin of IT firms as the sector derives a lion's share of revenue from exports.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 70.1725, compared with its close of 70.44 during the previous trading session.
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