BSE IT index tanks 11% so far in June; TCS, Infosys, Wipro hit 52-week low

Shares of information technologies (IT) companies continued to remain under pressure, with the S&P BSE IT index registering a fresh 52-week low in Friday’s trade. The index has plunged over 30 per cent in the past five months on concerns of moderation in growth due to lower global growth outlook.

Fears of a recession in the US grew after Federal Reserve's biggest rate hike in nearly three decades, followed by Swiss National Bank raising its policy interest rate for the first time in 15 years in a surprise move on Thursday.

All frontline IT stocks like Tata Consultancy