Sensex slips over 520 points, Nifty ends below 25,000 mark
Sensex dropped 520 points to close at 81,194, and Nifty fell by 152 points to end just under the 25,000 mark on Thursday—amid heavy selling in IT, auto, and realty stocks during the monthly derivatives expiry.
H-1B visa fee hike worries weigh on investors
If you're tracking the markets or thinking about investing, it's worth noting: nearly twice as many stocks fell as rose, and India's "fear gage" (the VIX index) jumped nearly 9%.
Investors are on edge thanks to renewed worries over the US H-1B visa fee hike that could hit Indian IT companies hard.
IT stocks took a big hit
IT stocks took a big hit—down over 6% this week—because of concerns about a US H-1B visa fee hike hurting major firms like Infosys and TCS.
Plus, both NSE and BSE just swapped their derivatives expiry days (NSE moves to Tuesday; BSE switches to Thursday from September), which could shake up trading habits going forward.