New Delhi, Sept. 10 -- India's equity market has been weak for a while, but information technology (IT) shares took a particularly hard beating on Wednesday. The IT index of BSE was down about 3% against a 1%-odd decline in the broader Sensex. Coforge fell more than 5% after its chairman resigned amid concerns over its board evaluation process.

Cognizant saw a key labour-certification process needed for talent management suspended by the US Department of Labor. The Trump administration's disapproval of foreign workers in the US has already spelt trouble for Indian IT service providers, with hiring non-US citizens for work in America getting costlier as a result.

Meanwhile, strong payroll data has made a Fed rate hike more likely. If bor...