Quick Wrap: Nifty IT Index registers a drop of 3.53%, NIFTY Crashes 1.40%

Nifty IT index closed down 3.53% at 27678.95 today. The index has lost 1.00% over last one month. Among the constituents, Tech Mahindra Ltd fell 4.61%, Mindtree Ltd shed 4.30% and Coforge Ltd dropped 4.10%. The Nifty IT index has decreased 19.00% over last one year compared to the 4.06% spike in benchmark Nifty 50 index. In other indices, Nifty Media index has slid 2.03% and Nifty Services Sector index has dropped 1.88% on the day. In broad markets, the Nifty 50 has dropped 1.40% to close at 17312.9 while the SENSEX has declined 1.46% to close at 57972.62 today.

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