IT Stocks: Infosys, TCS, HCL Tech Fall Over 2% on April 3 as Trump Announces Reciprocal Tariffs

According to media reports, the Trump administration has levied a 26% reciprocal tariff on India. However, no specific tariff has been placed on IT companies and services. Meanwhile, the White House Annexure lists the tariff percentage as 27%, indicating a discrepancy in reported figures.

IT Shares Slide as Trump Announces Reciprocal Tariffs Across 60 Countries

Indian IT stocks witnessed a sharp decline after US President Donald Trump announced reciprocal tariffs impacting trade relations with 60 countries globally.

Infosys led the slump, falling 2.45% to ₹1,512.15, contributing 41.11% to the sector’s decline at 9:30 AM on the NSE. TCS dropped 2.44% to ₹3,457.45, while HCL Tech slipped 2.20% to ₹1,493.90.

Other major IT firms, including Tech Mahindra, Coforge, Mphasis, LTIMindtree, and L&T Technology Services, also traded in the red, reflecting investor concerns over the potential impact of trade restrictions on the sector.

Nifty IT Index Trades in Red as Selling Continues

The Nifty IT index plunged 979.50 points (-2.70%), as all 10 constituent stocks closed in the red amid concerns over the Trump administration’s reciprocal tariffs. Persistent Systems was the worst hit, tumbling 7%.

Conclusion

The announcement of reciprocal tariffs by the Trump administration has triggered a sell-off in Indian IT stocks, reflecting market concerns over global trade tensions. Moving forward, clarity on tariff implications for IT services will be crucial in determining the market trajectory.

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