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Trump fire singes mutual funds, IT holdings lose Rs 1,000 crore in a day

This article was posted on Feb 1, 2017 and is filed under Market News

MUMBAI: The sharp sell-off in technology shares on Tuesday eroded a little over Rs 1,000 crore of mutual fund holdings in these companies. The Nifty infor mation technology (IT) index, which comprises top-10 stocks in the sector, declined 3.2% on Tuesday after the US moved to tighten work-visa rules in the country.

Mutual funds’ portfolio value in top-five technology companies is Rs 36,000 crore. TCS fell 4.3%, HCL TechnologiesBSE -3.67 % dropped 4.2%, Tech MahindraBSE -4.23 % declined 3.7%, Infoys fell 2.1% and WiproBSE -1.62 % weakened 1.1%.

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