Nifty IT slumps for 4th straight day, hits 8-month low; Infosys biggest drag

Indian stock market: The sharp sell-off in domestic technology stocks shows no signs of reversal as they extend their losing streak for the fourth consecutive trading session on Wednesday, March 12, sending the Nifty IT index tumbling another 4.1% in today’s trade, hitting a 8-month low of 35,988 points and taking the four-day cumulative fall to 6%.

Domestic technology stocks have been under severe selling pressure in recent months amid a series of weak U.S. economic data, which indicate signs of an economic slowdown and have also raised fears of a potential recession.