Why Nifty IT index fell 2% after two straight sessions of lifetime highs?

The Nifty IT index saw a sharp decline on Thursday, following overall a weakness in the market. The index slipped 2.11 per cent hitting an intraday low at 43,087.25 points.

In the last 30 days the index has moved up by 3 per cent, in comparison to NSE’s Nifty50’s drop of 1.16 per cent. At 11:34 AM; the Nifty IT index was down 2 per cent, compared to Nifty50’s fall of 0.78 per cent.