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The Nifty IT index plunged seven percent in early trading on April 7, mirroring a global risk-averse mood that dragged down Indian equities.
Both NSE Nifty and and BSE Sensex on Monday opened over 3.5 per cent down to hit 10-month lows on April 7.
Nifty Share Price Today: The Nifty IT index plunged seven percent in early trading on April 7, mirroring a global risk-averse mood that dragged down Indian equities.
Major IT services firms, which rely heavily on US revenue, saw sharp declines, with Infosys, TCS, and HCL Technologies leading the losses on the Nifty 50. By 9:15 am, the Nifty IT was down seven percent, with mid-cap players like Mphasis and Coforge dropping 6-9 per cent, while Infosys slumped 10 percent.
The sell-off reflects growing concerns over sales growth, as Indian IT companies depend significantly on US-bound services exports. With fresh tariffs imposed, deal wins from American clients are expected to slow, potentially hurting these firms’ top-line performance.
Due to the negative sentiment, IT stocks have been underperforming amid fears of a US economic slowdown affecting the Indian tech industry. Concerns over tariffs have led to a widespread sell-off in the IT index. The Nifty IT gauge has fallen six percent over the past month and plunged 20 percent over the past six months, erasing crores in investor wealth.
Stock Movements In Nifty IT
The Nifty IT index opened at Rs 31,307.95 and was last trading at Rs 31,763.15.
LTIMindtree (LTIM) opened at Rs 3,900.00 and its last traded price was Rs 3,972.70.
Oracle Financial Services (OFSS) opened at Rs 7,235.00 and was last seen trading at Rs 7,193.80.
Wipro started the day at Rs 231.05 and its latest price stood at Rs 235.15.
Tech Mahindra (TechM) opened at Rs 1,245.00 and was trading at Rs 1,257.00.
Infosys (INFY) had an opening price of Rs 1,352.00 and its last traded price was Rs 1,380.20.
TCS began trading at Rs 3,100.00 and was last seen at Rs 3,135.05.
HCL Technologies (HCLTech) opened at Rs 1,345.00 and its latest price was Rs 1,336.90.
Persistent Systems saw an opening of Rs 4,148.95 and was trading at Rs 4,316.70.
Mphasis opened at Rs 2,063.50 and was last trading at Rs 2,065.75.
Coforge started the session at Rs 5,975.00 and its most recent price was Rs 6,089.95.
(Latest prices cutoff around 10:45 AM)
Global Markets Fall
Global markets experienced a sharp crash on Monday, with S&P 500 futures dropping 4.31 percent and Nasdaq futures plummeting 5.45 percent, adding to last week’s nearly $6 trillion in market losses. Japan’s Nikkei fell 7.8 percent to lows not seen since late 2023, while South Korea’s market declined by 4.6 percent. Hong Kong’s Hang Seng index and Taiwan’s benchmark both sank by 10 percent.
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