Indian IT stocks fell sharply after the U.S. raised the one-time H-1B visa fee to $100,000.
Infosys, TCS, Wipro, and HCLTech dropped over 3%, dragging the Nifty IT index lower.
The fee hike increases the cost of sending Indian professionals to U.S. clients, impacting margins.
Analysts said earnings may face pressure in the upcoming quarters.
The sector’s recent positive momentum was disrupted by this surpri
se news.
Foreign investors reduced IT holdings, adding to selling pressure.
Large volumes of selling were reported in top IT counters.
Smaller IT firms may feel more stress compared to large-ca
p peers.
Investors shifted funds to banks and capital goods for stability.
Markets are awaiting further clarity from U.S. authorities on the
policy.