IT Stocks India News: IT Heavyweights Fall As Rupee Touches Its Record Low Against US Dollar

Losses in shares of IT stocks India – Infosys (down 2.04 percent), Tata Consultancy Services (TCS) (down 3.86 percent), HCL Technologies (down 1.25 percent) and Wipro (down 0.74 percent) hauled Nifty IT record down on October 3, 2018 session. The IT heavyweights fell even as rupee contacted its record low against the US dollar on October 3, 2018.

The rupee on October 1, 2018, opened 32 paise higher at 69.83 against the US dollar. It was exchanging 33 paise up around 10:55 am. The Nifty IT index was exchanging 0.66 percent down at 15,027 around that time.

Be that as it may, shares of Infibeam Avenues (up 15.25 percent) bounced over 15 percent. In a voluntary clarification to the BSE on September 28, 2018, lnfibeam Avenues said that all the material data “that have a bearing on the operation/ performance of the company which includes all price sensitive information have always been disclosed within the stipulated time”.

Tata Elxsi (down 0.68 percent), Tata Consultancy Services (TCS) (down 0.24 percent), KPIT Technologies (down 1.80 percent), HCL Technologies (down 0.59 percent), and Tech Mahindra (down 0.15 percent) excessively ended up among the washouts.

According to the Economic Times report, IT stocks India investors were peering toward how US-China talks work out, while acutely watching the development of Turkish lira and Chinese yuan. Indian value market was in the positive region in the midst of mixed global cues.

NIIT Technologies (up 5.24 percent), MindTree (up 1.24 percent), Oracle Financial Services Software (up 0.84 percent) and Tech Mahindra (up 0.09 percent) too were in the positive zone around then.

Benchmark BSE Sensex was 203 points down at 36,323, while the NSE Nifty50 record was down 55 points at 10,953. Among the 50 stocks in the Nifty record, 22 were exchanging the green, while 28 were in the red.

Indeed Bank, Indiabulls Housing Finance, Bajaj Finance, Vedanta and HPCL were among best Nifty gainers.

In IT stocks India, Bharti Infratel, Mahindra and Mahindra, Eicher Motors, Tata Consultancy Services, and Grasim Industries were among the failures in the Nifty list, according to the report of Economic Times.

The post IT Stocks India News: IT Heavyweights Fall As Rupee Touches Its Record Low Against US Dollar appeared first on OWLT Market.

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