Mumbai, June 18 -- The Nifty IT index fell 1.40% to 28,405.35. Infosys led the losses, declining 2.53%, followed by Persistent Systems (down 1.93%), Tech Mahindra (down 1.53%), Tata Consultancy Services (down 1.41%), Wipro (down 1.12%) and HCL Technologies (down 0.93%). Oracle Financial Services Software dropped 0.84%, while Mphasis and LTIMindtree slipped 0.26% and 0.13%, respectively. Coforge was the sole gainer in the index, rising 1.28%.
Sentiment weakened after the US Federal Reserve kept interest rates unchanged on Wednesday, but signalled continued concerns over inflation. Policymakers indicated that borrowing costs could remain higher for longer as inflation stays above the central bank's 2% target.
The cautious outlook weighed on...