IT Stocks Plummet Amid H-1B Visa Fee Hike
IT stocks declined for the third consecutive day, affected by a significant increase in H-1B visa fees imposed by the US. The Indian tech sector, heavily reliant on these visas, saw shares of major companies fall, contributing to a drop in market indices like the BSE Sensex and NSE Nifty.
- Country:
- India
IT stocks experienced a downward trend for the third straight day as the recent escalation in US H-1B visa fees continues to impact investor confidence.
Mastek Ltd saw a 3.42% decline, Infobeans Technologies fell by 3.41%, while Wipro, Tech Mahindra, Tata Consultancy Services, and Infosys dipped across the board on the BSE.
The broader market reflected these concerns, with the BSE IT index waning by 0.69% and key indices like the BSE Sensex and NSE Nifty registering declines as well.
(With inputs from agencies.)
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