Nifty trades below 25,350 mark; IT shares slumps

The headline equity indices traded with moderate losses in the morning trade as investor sentiment took a hit following the Trump administration?s controversial H-1B visa policy, which imposes a one-time $100,000 fee on new applicants. The move, seen as a blow to India?s tech sector.

The Nifty traded below 25,350 mark. IT shares extended losses for the second consecutive trading session.

At 10:27 IST, the barometer index, the S&P BSE Sensex, declined 145.82 points or 0.18% to 82,480.41. The Nifty 50 index lost 19.40 points or 0.08% to 25,307.65.

In the broader market, The S&P BSE Mid-Cap index fell 0.15% and the S&P BSE Small-Cap index shed 0.03%.

The market breadth was positive. On the BSE, 2,064 shares rose and 1,808 shares fell. A total of 210 shares were unchanged.

Trumps H1B Visa

The Trump administration has issued a key clarification regarding its new visa policy, confirming that the controversial $100,000 H-1B visa fee will be a one-time charge applicable only to new applicants. The policy, which came into effect at midnight on Sunday, 21 September 2025, does not impact petitions filed before this date?offering limited relief to the rattled tech industry.

Despite the clarification, the sudden announcement triggered widespread panic among Indian professionals in the U.S. on H-1B visas. Confusion and uncertainty gripped many, with some canceling last-minute travel plans and others already in India scrambling to return. Immigration attorneys and companies quickly raised red flags, especially for H-1B holders and their families currently outside the U.S. for work or vacation. American lawmakers also criticized the move, calling it ?reckless? and potentially damaging to the country?s tech-driven economy.

Buzzing Index:

The Nifty IT index dropped 2.56% to 35,641.40. The index fell 3.01% in the two consecutive trading sessions.

Persistent Systems (down 4.22%), Mphasis (down 4.16%), Tech Mahindra (down 3.75%), Coforge (down 3.55%), LTIMindtree (down 3.53%), Tata Consultancy Services (down 2.18%), Wipro (down 2.04%), Infosys (down 1.97%), HCL Technologies (down 1.66%) and Oracle Financial Services Software (down 0.57%) declined.

Stocks in Spotlight:

Zydus Lifesciences shed 0.05%. The company announced that it has received the establishment inspection report (EIR) from US Food and Drug Administration (USFDA) for GMP follow-up inspection conducted at its oncology injectable facility located at SEZ1, Ahmedabad.

Netweb Technologies India rallied 5.89% after the company announced that it has secured a purchase order valued at approximately Rs 450 crore for the supply and deployment of its advanced Tyrone AI GPU-accelerated systems.

NBCC (India) added 1.47% after the company has secured multiple work orders worth approximately Rs 117 crore from the Housing and Urban Development Corporation (HUDCO).

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