IT stocks drag markets lowest in 2-months

Benchmark indices logged their worst day in nearly two months on Thursday as they slid 1.5% in a sudden crash after rising initially in the day. The renewed escalation in Russia-Ukraine war and concerns that the US Federal Reserve may not cut interest rates in its December meeting were the key factors weighing on investors.

Market participants said the expiry of monthly Nifty derivatives contracts likely exacerbated the correction and volatility.