Infosys, TCS and HCLTech slide as Nifty IT drops 1.46% after post-rally reassessment

Federal Reserve signals that it could raise rates again in October, pushing US bond yields up to 4.46% and dragging down US tech stocks, which in turn weighed on Indian IT names including Infosys, TCS and HCLTech; the Nifty IT index fell 1.46% in a single session. The note also points to Brent crude slipping to $78 a barrel after a US-Iran agreement eased supply concerns, a move that supported domestically oriented sectors. That support, however, did not offset selling pressure in IT stocks.