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Sensex falls over 500 points as IT stocks sink
Business
The Indian stock market had a rough Monday, with the Sensex falling over 500 points to 82,122.92 and Nifty50 slipping by nearly 144 points to 25,183.20.
The main reason? A sharp sell-off in IT stocks after the US hiked H-1B visa application fees—a move that hit big tech names like TCS, Infosys, and Wipro especially hard.
IT sector's challenges compounded
It wasn't just about visas—experts say Indian IT companies are also dealing with slower project spending and delayed deals, making things even tougher.
Puneet Singhania from Master Trust Group suggests investors stay calm through these bumps but warns new investors to tread carefully given ongoing challenges in the sector.