Refile: BUZZ-Indian IT stocks on track for second straight month of losses on US rate hike worries

Tech Mahindra

30/06/2026 10:30

Drops extraneous word in sixth bullet point
** India's IT stocks .NIFTYIT slip 2.2% to 26,460.10, lowest level since April 2023; top pct loser among 16 major sectors
** Sub-index on track to lose 9.1% in June, its second straight month of losses
** Oracle Financial Services Software ORCL.NS, Wipro WIPR.NS, Infosys INFY.NS, Tech Mahindra TEML.NS, TCS TCS.NS, Coforge COFO.NS, HCL Technologies HCLT.NS down between 0.5%-3.7%
** U.S. inflation increased further in May, keeping interest rate increase from Federal Reserve this year on table
** Shares of Indian IT cos, which get a bulk of their revenue from U.S., have been declining since IT consulting giant Accenture ACN.N forecast Q4 sales estimates below forecast earlier this month
** Rate hikes in the U.S. could weigh on client spending and economic growth in the world's largest economy
** YTD, NIFTYIT down 30.4% vs 8.6% fall in benchmark Nifty 50     
     
     

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))