Stocks Plunge on IT Sell-Off, Weak Global Cues

Indian stock markets fell sharply today. IT stocks led the decline, triggered by weak signals from U.S. markets and rising oil prices.

The Sensex dropped 0.50% and the Nifty fell 0.47%. Infosys and Tata Consultancy Services were among the biggest losers. Concerns about U.S. Federal Reserve interest rate policy also weighed on investor sentiment. Foreign investors were net buyers, but domestic institutions sold shares.

The IT sector faces continued challenges. A shift to other sectors is expected. Rising crude oil prices may further pressure the markets. Check out our business and finance coverage and our analysis of stock market activity for more insights.