Nifty IT Index Sees Slight Dropping of 3% Amid Anticipated US Fed Rate Cut

Mumbai, November 18, 2024 - The Nifty IT index made significant losses today, slipping over 3% in the mid-afternoon session amidst heightened expectations for a reduced pace of interest rate cuts from key Federal Reserve officials in the United States.

According to market analysts, the anticipation of a more cautious approach by the US Fed has resulted in selling pressure in key technology stocks. As trading continued through Monday afternoon on Dalal Street, investors appeared worried about potential market volatility brought about by the possible change in monetary policy in the US.

Stock exchanges revealed fluctuating trends with top gainers including Tech Mahindra, Zensui Technologies and Tata Consultancy Services making notable strides. However, IT heavyweights such as HCL Technologies and Infosys Electronics were on the losing end due to market sell-offs.

This trend development leaves traders and investors in flux about what is in store for global equities moving ahead.