The Nifty IT Index declined ~2% in late morning session on Monday after the Indian rupee appreciated for the eighth consecutive trading session
Tech Mahindra, which slipped 3%, Infosys and Tata Elxsi, which dropped 2%, each, led the drop on the index. Infibeam, NIIT Tech, Oracle Financial Services Software, HCL Tech, TCS, and Wipro also contributed to the fall by declining 1% each.
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