India tech stocks extend decline as US visa hike hurts sentiment

ReutersSep 23, 2025 6:59 AM

Indian IT stocks .NIFTYIT fall 0.5% after sliding 3% in previous session

IT index sheds 3.5% in two sessions after U.S. President Donald Trump imposes $100,000 fee for new H-1B visa applications

Indian IT firms, which earn most of their revenue from the U.S., have been biggest beneficiaries of U.S. work visa programmes

Mphasis MBFL.NS leads losses with 2.6% drop, trailed by Coforge's COFO.NS 2% decline

TCS TCS.NS, Infosys INFY.NS and Wipro WIPR.NS largely flat

TCS, INFY and WIPR dropped 2-3% on Monday

As of Monday's close, Indian IT firms lost roughly $10 billion in combined market capitalisation

IT stocks worst performers so far in 2025 with 18.5% decline; Nifty 50 up 6.3% YTD

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