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BUZZ-India's IT stocks fall after Trump comments on U.S. visas
December 12, 2016 / 5:08 AM / 9 months ago

BUZZ-India's IT stocks fall after Trump comments on U.S. visas

** India’s Nifty IT index falls as much as 1.51 pct

** Infosys Ltd, top loser on the benchmark NSE index, drops as much as 2.44 pct; Tata Consultancy Services Ltd slips as much as 1.47 pct

** U.S. President-elect Donald Trump on Friday pledged to stop companies from abusing the visa process for foreign workers

** Indian companies have long used H1-B skilled worker visas to fly computer engineers to the U.S., their largest overseas market, temporarily to service clients

** As of Friday’s close, the Nifty IT index lost 10.84 pct this year, compared with a 3.97 pct rise in the benchmark index

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