{
  "id": 6513053,
  "title": "Nifty IT index plunges 3.2%, posts biggest single-day fall in 3 months",
  "url": "https://urgent.news/2026/09/10/nifty-it-index-plunges-3-2-posts-biggest-single-day-fall-in-3-months",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-10T00:23:14.000Z",
  "source": {
    "name": "The Economic Times - Top News",
    "slug": "the-economic-times-top-news",
    "url": "https://economictimes.indiatimes.com/markets/stocks/news/nifty-it-index-plunges-nearly-5-on-us-rate-hike-worries/articleshow/133988374.cms"
  },
  "original_language": "en",
  "account": "Mumbai experienced a significant downturn in the Nifty IT index on Wednesday, marking its largest single-day decline in the past three months, according to data reported Wednesday. This decline came as a result of increased risk-averse tendencies in Indian equities and worries about a potential interest rate increase in the United States. The Nifty IT index plummeted by 3.2%, in contrast to a 0.9% decline in the benchmark Nifty 50 index. Among the affected companies, Coforge witnessed the most substantial drop, plummeting by 5.4%, followed by Infosys, HCL Technologies, and Tech Mahindra, which each fell between 3.3% to 4.3%. Sumit Pokharna, the vice-president of Fundamental Research at Kotak Securities, attributed the downturn to a confluence of factors such as escalating geopolitical tensions, elevated oil prices, which could spur inflation and heighten expectations of a Federal Reserve rate hike or cautious statements. Additionally, higher visa costs for H-1B workers and ongoing apprehensions regarding the impact of generative AI were further exacerbating the pressure on IT firms. On Wednesday evening, the November crude oil futures were quoted at $100.4 a barrel, surpassing the $100 threshold for the first time since May of this year.",
  "summary": "The Nifty IT index experienced its largest single-day drop in three months on Wednesday. Several IT stocks saw significant declines, reversing recent gains in the market. Renewed risk-off sentiment and US interest rate hike worries triggered the broad sell-off. Geopolitical tensions and rising oil prices also contributed to the pressure on IT firms. Concerns over H-1B visa costs and generative AI…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}