IT stocks fell for the second consecutive day amid concerns over a steep hike in US H-1B visa fees.
Hexaware Technologies dropped 5.04%, Mphasis 2.58%, Mastek 2.40%, Tech Mahindra 2.07%, HCL Tech 0.74%, TCS 0.38%, Wipro 0.26%, and Infosys 0.16% on the BSE.
The BSE IT index declined 0.63% to 34,769.38.
Analysts cited worries that rising H-1B visa fees could negatively impact earnings of Indian IT companies.
IT Stocks Fall for 2nd Day; Hexaware Tech Drops 5%
The BSE IT index declined 0.63% to 34,769.38
IT Stocks Moneycontrol
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IT stocks fell for the second day in a row on Tuesday, amid concerns over the steep hike in US H-1B visa fees.
Hexaware Technologies tumbled 5.04%, Mphasis declined 2.58%, Mastek Ltd lost 2.40%, Tech Mahindra fell by 2.07%, HCL Tech dipped 0.74%, Tata Consultancy Services (0.38%), Wipro (0.26%) and Infosys (0.16%) on the BSE.
The BSE IT index declined 0.63% to 34,769.38.
"FMCG, IT, and realty lagged, with IT feeling the impact of worries about rising US visa fees (H-1B) and their possible effect on earnings," Ajit Mishra, SVP - Research at Religare Broking Ltd, said.
IT stocks also dropped on Monday.
Last week, the Trump administration announced a one-time USD 100,000 fee on H-1B visas.
All new H-1B visa petitions submitted after September 21, including those for the FY2026 lottery, will require payment of USD 100,000.
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Notably, Indian tech professionals account for the bulk of H-1Bs -- over 70%.
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