The combined influence of the main IT companies in India in the NIFTY50 has slipped below that of the HDFC bank while sectoral actions continue to slip. While the weight of the HDFC bank is now 13.02%, the five computer majors represent only 9.9%together, reflecting a significant sub-performance in the midst of pressures on the profits and the world-contrary winds. Meanwhile, financial and energy actions stimulated the index, compensating for the drag.
2 min read
The prolonged decline in the actions of the main IT companies in India has greatly reduced their influence in the NIFTY50 reference index. The five heavy goods vehicles in the sector – Infosys, Tata Consultancy Services (TCS), HCL Technologies, Tech Mahindra and Wipro – have collectively fell around 25% so far this year, leading to their combined weight in the NIFTY50 to 9.9%.
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