Nifty IT Index Slumps Over 3% as Investors Expect US Fed to Gradually Ease Rate Cut Pace

Mumbai, November 18, 2024 - 12:54 IST

The Indian stock market continued its volatility today, with the Nifty IT index plummeting over 3% yesterday due to strong apprehensions that the US Federal Reserve is likely to slow down its rate cut pace. This sentiment led investors to reassess their portfolio allocations and take a cautious stance.

According to experts at Mint, concerns about the potential reduction in the Fed's rate-cutting cycle have impacted large-cap IT firms such as Infosys, Wipro, and Tata Consultancy Services (TCS). Investors are reportedly reducing their exposure to these companies amidst fears that slower economic growth could impact earnings.

The market blog on Mint.com is providing real-time updates on this developing story. Please follow our live coverage for more on the Nifty IT index's performance and its impact on Indian stock markets.