{"id":4017,"date":"2024-09-18T12:01:23","date_gmt":"2024-09-18T06:31:23","guid":{"rendered":"https:\/\/lakshmishree.com\/news\/?p=4017"},"modified":"2024-09-18T12:01:25","modified_gmt":"2024-09-18T06:31:25","slug":"it-stocks-decline-3-on-profit-booking-ahead-of-fed-meeting-decision","status":"publish","type":"post","link":"https:\/\/lakshmishree.com\/news\/it-stocks-decline-3-on-profit-booking-ahead-of-fed-meeting-decision\/","title":{"rendered":"IT Stocks Decline 3% on Profit Booking Ahead of Fed Meeting Decision"},"content":{"rendered":"\n<p>The Nifty IT index dropped nearly 3 percent on Tuesday as investors booked profits ahead of the U.S. Federal Reserve&#8217;s upcoming meeting. Major IT stocks such as Infosys, TCS, and Tech Mahindra led the decline, with all 10 components of the index trading in the red, down by 2-5 percent.<\/p>\n\n\n\n<p>According to Osho Krishan, Technical and Derivative Analyst at Angel One, the sell-off is more on account of profit booking than a correction phase. &#8220;Given the lofty levels of the IT companies and the overall market, both on technical and fundamental parameters, the profit booking is happening,&#8221; he said.<\/p>\n\n\n\n<p>Other frontline Nifty IT stocks such as Wipro tanked 0.60%, LTIMindtree 0.14% and Tech Mahindra 0.04%. The sector emerged as a drag on the index.<\/p>\n\n\n\n<p><em>Do&nbsp;you have a news tip for Lakshmishree reporters? Please email us at&nbsp;<\/em>media@lakshmishree.com<\/p>\n\n\n\n<p><sub><sup>Source:&nbsp;<a href=\"https:\/\/www.moneycontrol.com\/news\/business\/earnings\/bse-market-capitalisation-sensex-record-high-12820632.html\" target=\"_blank\" rel=\"noreferrer noopener\">Moneycontrol<\/a><\/sup><\/sub><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Nifty IT index dropped nearly 3 percent on Tuesday as investors booked profits ahead of the U.S. Federal Reserve&#8217;s upcoming meeting. Major IT stocks such as Infosys, TCS, and Tech Mahindra led the decline, with all 10 components of the index trading in the red, down by 2-5 percent. According to Osho Krishan, Technical [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4018,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[50],"tags":[386],"class_list":["post-4017","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indian-market","tag-it-stocks-decline"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/4017","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=4017"}],"version-history":[{"count":1,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/4017\/revisions"}],"predecessor-version":[{"id":4019,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/4017\/revisions\/4019"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/4018"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=4017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=4017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=4017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}