IT Stocks Fall Amid US Fed's Mixed Signals on December Rate Cut

IT stocks in India, including Infosys and Wipro, fell up to 1% on Thursday after the US Federal Reserve said a December rate cut was not guaranteed. The Fed delivered a 25-basis-point interest rate cut to cushion a cooling labor market. Indian IT companies derive a significant portion of their revenue from the US, and lower US rates can support consumer spending and tech budgets. However, Cognizant marginally increased its full-year revenue guidance, capping the downside for IT stocks.