- LATEST
- WEBSTORY
- TRENDING
BUSINESS
IT stocks decline as surging rupee impact on software revenue
IT stocks, led by Infosys Technologies, dropped across the board on selling by funds fearing that a record rise in rupee against dollar might impact software exporters earning.
Updated : Sep 14, 2017, 04:34 PM IST
TRENDING NOW
)
AR Rahman, Saira Banu's daughter Raheema opens up on parents' divorce being linked to Mohini Dey: 'Always remember...'
)
Riddhima Kapoor Sahni reveals Rishi Kapoor's last two wishes: 'He wanted to see Ranbir Kapoor getting...'
)
Sana Khan, former Bigg Boss contestant, actress announces 2nd pregnancy with Anas Saiyad: 'Only Allah has power to..'
)
'Good to be back': After breaking up with Malaika Arora, Arjun Kapoor reunites with his 'partner-in-crime after ages'
)
'Your dance lightens up...': Little girl's dance on 'Tere Bina na Guzara E' steals hearts online, WATCH viral video
)
Is Mia Khalifa dating ex-Man City star Julian Alvarez? Former adult star says 'It certainly...'
)
Meet Imsha Rehman, Pakistani TikTok star who deactivated her accounts after video leak and Minahil Malik's MMS
)
This Pakistani Influencer's private video leaked online, days after Minahil Malik and Insha Rehman's clips
)
32-year-old superstar forcibly kissed 15-year-old co-star; left her traumatised, crying; later laughed about it saying..
)
Amid Aishwarya Rai-Abhishek Bachchan divorce rumours, Jaya Bachchan says 'not my daughter' in viral video
)
Telecom rules to change from January 1, Mukesh Ambani's Jio, Airtel, Vi, BSNL will be affected due to...
)
Mukesh Ambani's SUPERHIT plan for Jio users, offers unlimited 5G access for 1 year for just Rs...
)
AR Rahman's bassist Mohini Dey reacts to her split linked with composer's divorce with Saira Banu: 'I know exactly..'
)
Gandii Baat, XXX actress Aabha Paul sets Instagram on fire with hot photos
)
Good news for Delhi-NCR residents, travel time from Noida to Gurugram to be reduced as new train service will...
MUMBAI: Information technology stocks, led by Infosys Technologies, dropped across the board on Thursday on selling by funds fearing that a record rise in rupee against dollar might impact software exporters earning.
As the key index snapped its long four-day rising streak on the Bombay Stock Exchange by losing 18.35 points at14,861.89, the BSE IT index lost 49.65 points at 4791.99 with most of the heavy-weight segment stocks closed with heavy losses.
Market players felt the rupee rising to nine-year highrecord level against the US dollar raised concerns of a dent in software exporting companies' revenue.
Country's over 50 per cent software export revenue generates from the US market.
IT major and index heaviest Information Technologies plunged by Rs.16.50 at Rs.1,916.55, Patni computer by Rs.16.70 at Rs.493.40, TCS by Rs.7.50 at Rs.1109.75, Satyam computer by Rs.7.00 at Rs.464.15, Wipro by Rs.4.75 at Rs 504.20, HCL Technologies by Rs.2.85 at Rs.329.85, I-flex by Rs.37.45 at Rs.2522.10 and Finance tech by Rs.35.10 at Rs 2879.80 and Mphasis by Rs.9.45 at 312.20.
