Indian IT slips as hawkish Fed stirs demand worries

Tech Mahindra

17/09/2026 05:09

** Indian IT stocks .NIFTYIT down 0.9%
** Sector pressured after the U.S. Federal Reserve delivers a 25-basis-point rate hike, its first increase in over three years, and signals at least one more hike this year
** Higher U.S. rates weigh on growth outlook for Indian IT firms, which generate a large share of revenue from US
** All of the 10 IT constituents trade lower, with HCLTech HCLT.NS leading declines, down 1.3%
** Heavyweights TCS TCS.NS, Infosys INFY.NS, Wipro WIPR.NS and Tech Mahindra TEML.NS among key drags on the index, falling ~1% each
** Benchmark Nifty 50 .NSEI up 0.1%    
** Nifty IT remains the worst-performing sector in 2026, down ~24% YTD versus an 11.1% decline in the Nifty 50


 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))