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IT stocks slumps as Trump leads presidential race to White House

09 Nov 2016

Infosys is currently trading at Rs. 956.05, down by 26.75 points or 2.72% from its previous closing of Rs. 982.80 on the BSE. The scrip opened at Rs. 940.00 and has touched a high and low of Rs 973.70 and Rs. 900.30 respectively. So far 361816 shares were traded on the counter.

Wipro is currently trading at Rs. 445.50, down by 7.45 points or 1.64% from its previous closing of Rs. 452.95 on the BSE. The scrip opened at Rs. 437.00 and has touched a high and low of Rs. 450.00 and Rs. 410.00 respectively. So far 120907 shares were traded on the counter.

HCL Technologies is currently trading at Rs. 781.20, down by 27.15 points or 3.36% from its previous closing of Rs. 808.35 on the BSE. The scrip opened at Rs. 780.00 and has touched a high and low of Rs. 796.25 and Rs. 763.05 respectively. So far 60383 shares were traded on the counter.

Tata Consultancy Services is currently trading at Rs. 2192.75, down by -90.95 points or 3.98 % from its previous closing of Rs. 2283.70 on the BSE. The scrip opened at Rs. 2220.90 and has touched a high and low of Rs. 2275.00 and Rs. 2142.30 respectively. So far 354496 shares were traded on the counter.

IT stocks came under pressure as investors reacted to early results and predictions for the US presidential elections, showing gains for Trump in crucial states. For the $150 billion IT services industry a Trump victory will only add to its woes and challenges the industry is facing on growth due to automation and technology disruption. Trump right from the start of his campaign days has stated that he wants to bring jobs back to the US. This includes both the manufacturing jobs that China has taken away and employment in tech industries that has come to India.

Related Infosys Ltd. Links:

Infosys Share Price

1724.45 4.90 (0.28%) Oct 25, 09:23
1 Year Price Chart
Peers
Company Name CMP
TCS 3500.05
Infosys 1724.45
HCL Tech. 1192.00
Wipro 684.40
Tech Mahindra 1535.00
View more..
Sensex vs Infosys
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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