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

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

Source: ET Feb 2, 2017

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 information 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 0.67 % dropped 4.2%, Tech MahindraBSE -0.66 % declined 3. ..

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