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Listen to this article in summarized format The Nifty IT index fell 3.2% on Wednesday, compared with a 0.9% decline in the benchmark Nifty 50. Among stocks, Coforge fell the most, down 5.4%, followed by Infosys, HCL Tech and Tech Mahindra, which declined 3.3-4.3%. Read more: US stocks today: US stocks retreat as oil crosses $100, yields rise ahead of inflation data Sumit Pokharna, vice-president - Fundamental Research at Kotak Securities, said multiple factors are weighing on Indian IT companies, including rising geopolitical tensions and higher oil prices. "This could fuel inflation and strengthen expectations of a Fed rate hike or hawkish commentary, which would in turn reduce US IT spending," he said. "Higher US H-1B visa costs and continued concerns around generative AI disruption are adding to the pressure on IT players." Crude oil November futures were trading at $100.4 a barrel on Wednesday evening, crossing the $100 mark for the first time since May this year. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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