Tech Mahindra shares down by more than 4% as Indian markets start the day in red

Indian equity markets have started the day in red today, 22^nd September. At 9:30 a.m. 22^nd September, Nifty 50 is down by 39.85 points or 0.16%. Sensex is down by 191.59 points or 0.23%.

IT stocks among top losers

Top 3 gainers at Nifty 50 are Adani Enterprises, Hero Motors and HDFC Life. All the top 3 losers at this time are IT and Software stocks. These are Tech Mahindra, Infosys, HCL Tech. Tech Mahindra’s shares are down by 4.1% at this time. This, after US government increased the H1-B visa fee to $100,000 from $2000-$5000. This visa fee will be applicable for the next 12 months. It will only be applicable on new H1-B visa applications.

Nifty IT index down by 2.59% at this time

Among the broad market indices, Nifty Microcap 250 index is the top gainer at this time. It is up by 0.06%. Nifty Midcap 50 index is the top loser at this time. It is down by 0.13%. Among sectoral indices, Nifty IT index is the top loser at this time. It is down by 2.59%. Nifty Media Index is the top gainer at this time. It is up by 0.68%.

Volatility jumps

Market breadth is very positive at this time. At NSE, 1621 stocks are gaining. 988 stocks are declining. Market volatility or risk has increased sharply. At this time, Nifty VIX index is up by 4.74%. This indicates that markets are expecting volatility or risk to go up sharply over the next 30 days.

Disclaimer : This content is only for informational purpose. It does not make any recommendation to act or invest.

Source: NSE