Dalal Street Investment Journal
Market Update at 10:20 AM: India’s equity markets opened lower on Monday, weighed down by losses in information technology stocks after the U.S. introduced a new USD 100,000 fee for fresh H-1B visa applications. At 9:15 a.m. IST, the Nifty 50 slipped 0.35 per cent to 25,238.1, while the BSE Sensex declined 0.58 per cent to 82,151.07.
Of the 16 major sectors, 11 recorded losses, with the IT index falling 3.1 per cent and leading the sectoral declines. Meanwhile, Small-Cap and Mid-Cap indices remained largely unchanged.
The move follows US President Donald Trump’s Friday announcement requiring companies to pay significantly higher fees for H-1B visas. Last year, Indians made up 71 per cent of approved H-1B applicants. The development could impact India’s USD 283 billion IT