Market News
3 min read | Updated on March 17, 2025, 13:11 IST
SUMMARY
The NIFTY IT index has resumed its decline after a one-week pause, forming a bearish candle on the weekly chart. It is trading below the 21- and 50-week exponential moving averages (EMAs), indicating persistent weakness in the broader trend.
IT stocks Infosys, Wipro, TCS, HCL Technologies and LTI Mindtree lost between 2% and 7% last week. | Image: Shutterstock
NIFTY IT was the biggest sectoral loser last week, falling 4.49% amid global uncertainty after U.S. President Donald Trump imposed several import tariffs. NIFTY IT touched an 8-month low as domestic IT companies came under heavy selling pressure. On Monday, the NIFTY IT index continues to trade lower, down 0.48%.
IT stocks Infosys, Wipro, TCS, HCL Technologies and LTI Mindtree lost between 2% and 7% on fears of an economic slowdown and a possible recession in the U.S. economy. The escalating global trade war and weak U.S. economic data could impact U.S. companies' sales, leading to lower revenues and a reduction in IT spending. This would result in fewer orders for domestic IT companies.
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