US may change work visa, IT sector shares in India

New Delhi, Nov 23 (HS): Due to the stir in the IT sector and the statement of the President of China on the trade war, the Indian stock recorded a big fall on the. At the end of trading, the Sensex fell 215.76 points, or 0.53 percent, to the level of 40,360 points. Similarly, the Nifty closed at the level of 11,915 points, down by 54 points i.e. 0.45 percent. This is the second consecutive day when the Sensex and Nifty are at the red mark at the end of trading.

The shares of the IT sector was battered on Friday. Talking about the BSE index, Infosys shares fell 2.89 percent to close at Rs 693.15 at the end of trading. Similarly, TCS declined by 2.20 percent and remained at Rs 2070.55. At the same time, shares of Wipro fell 1.82 percent to Rs 243.05.

The reason for the decline in the share of the IT sector is the news about American work visas. The US administration can change the work visa for migrants. If this happens, it will have an impact on India’s IT professionals. This is the reason that there was a sell-off in the stock of IT sector.

Meanwhile, Chinese President Xi Jinping has made a big statement about the trade war with America. He has said that he wants to work for a trade agreement with the US but if there is any kind of ‘struggle’, he is ready for it too. Xi said, “As we have always said that China does not want to start a trade war, but it does not panic. We will respond when needed but are now actively pursuing a trade deal. ”Following this statement by Xi Jinping, now the US President Donald Trump is making a counterattack.