Markets end in red as IT stocks slide on visa woes

Domestic equity benchmarks slipped on Monday as sharp losses in information technology (IT) shares weighed on sentiment after the US announced a steep hike in H-1B visa application fees.

- BS REPORTER & REUTERS

The Sensex fell 466 points, or 0.56 per cent, to 82,160, while the Nifty 50 declined 125 points, or 0.5 per cent, to 25,202.

The Nifty IT index tumbled 2.95 per cent, with nine of its 10 const tuents ending in the red. Heavyweights Tata Consultancy Services, Infosys and Wipro lost around 3 per cent each. The selloff erased more than %85,000 crore in market value from the Nifty IT pack.