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NiftyIT Index slumps 3% on new US visa fee
BusinessLineยท 2025-09-22 15:25
Information technology stocks were the worst performers on Monday, with the Nifty IT index plunging 3 per cent and over $10 billion erosion in market capitalisation, as over the weekend the US imposed a stiff $100,000 fee on new H-1B application, potentially raising costs for Indian IT companies sending workers abroad. IT stocks, with the second heaviest weightage in the benchmark Nifty50, saw losses in the range 1.7 to 3 per cent. In the NiftyIT index, losses were in the range of 1.7 to 4.7 per cent, with ...