Nifty IT Index Slightens Over 3% as US Fed Looms to Lower Rate Cut P pace Amid Market Uncertainty

Mumbai, November 18 (ANI): The Indian stock market witnessed a significant slump in the Nifty IT index on Monday, amid rising concerns about the impending rate cut measures by the US Federal Reserve.

According to a report released by Mint's market blog, the Nifty IT index fell by over 3% during morning trading, marking a worrying trend for investors who had been keeping an eye on the sector.

Meanwhile, experts are speculating that the US Fed is likely to adjust its pace of rate cuts in its upcoming monetary policy meeting, set to conclude later this year. Such statements from the US central bank have significant implications for India's economy, which has been closely watching developments in the global financial sector.

Market analysts believe that a more optimistic outlook on the global economic front will prompt investors to reassess their risk appetite and invest more aggressively in the Indian stock market. Moreover, the ongoing earnings season may play a crucial role in shaping the market sentiment over the next few weeks.

The Nifty IT index is currently at 19,456.45 points, down approximately 3.17% from its opening session levels. Key sectoral performers include Tech Mahindra (-4.22%), Tata Consultancy Services (-2.46%), and Infosys (-1.65%).

Investors are encouraged to keep tabs on the updates for further news on this developing story.

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