Indian IT stocks set for worst week in 5 years as Trump tariffs fuel growth risks
ReutersApr 4, 2025 8:33 AM
Indian IT stocks .NIFTYIT slide 8.9% this week, set for worst week since March 2020
On the day, IT stocks down 3.4% at a 10-month low, benchmark Nifty 50 .NSEI down 1.5%
Analysts warn of further delay in demand recovery for IT services as President Donald Trump's tariffs seen raising risk of U.S. inflation and recession
Weaker spending in U.S. hurts IT firms, which depend on the country for over one-third of their revenue
Demand uncertainty brought by tariffs could result in FY26 being worse than FY25 for many of the companies - Kotak Institutional Equities
IT index set to be top sectoral loser this week
Sub-index down 22% YTD, the most among sectors, vs 3% drop in Nifty 50
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