Stocks

Nifty IT index falls over 4%; Infosys cracks

BL Internet Desk | Updated on October 22, 2019 Published on October 22, 2019

The Nifty IT index closed the day in red falling as much as 4.81 per cent to hit its lowest level in over four weeks. The contagion effect of Infosys had affected the sector as well.

Baring the stock of Wipro (up 1.87 per cent) and NIIT Technologies (up 0.94 per cent), other peers like Infosys fell sharply on the impact of whistleblower's allegation (down 16.65 per cent), HCL Technologies (down 2.79 per cent), Hexaware Technologies (down 2.23 per cent) and TCS (down 0.36 per cent).

Read also - Allegations of unethical practices: Infosys CEO, CFO recused from investigations

Shares of Tech Mahindra (down 2.07 per cent), Just Dial (down 1.34 per cent), Tata Elxsi (down 0.84 per cent) and Mindtree (down 0.99 per cent), too corrected significantly.

Read more - Whistleblower’s charges: testing time ahead for Infosys

At the end, the Nifty IT index was down 4.81 per cent at 14,668.70.

Published on October 22, 2019
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