Infosys (NSE:INFY) stock drags down Nifty IT, drives about 40% of index’s recent drop
Infosys Ltd shares slid 3.39% to 1,029.30 rupees on the NSE Tuesday, after hitting an intraday low of 1,026 rupees. The drop weighed on the Nifty IT index, which closed 2.23% down at 27,012.05. Infosys has dropped 9.99% in the last week. Infosys held a 27.08% weight in the Nifty IT index as of NSE Indices’ May 29 factsheet. Tata Consultancy Services followed at 19.71%. For investors, index weight shows how much a single stock drives the moves of the index.