Nifty IT index slips 3%; Infosys, LTIMindtree slip up to 6% post Q3 results

Shares of information technology (IT) companies are under pressure, with the Nifty IT index falling 3 per cent on the National Stock Exchange (NSE) in Friday’s intra-day trade after Infosys and LTIMindtree provided a more cautious view on discretionary recovery.

At 09:44 AM, the Nifty IT index, the top loser among sectoral indices, was down 2.5 per cent, as compared to the 0.52 per cent decline in the Nifty 50. In one month, the IT index has performed in-line with the benchmark index, declining nearly 5 per cent each.