Indian Stocks Slump on IT Sector Woes and Reliance Decline

Indian stocks slipped at the close of trading on Tuesday, weighed down by losses in the IT sector and Reliance Industries.

The Nifty 50 index fell 0.52%, while the Sensex closed down 0.24% at 77,472.94, according to Reuters.

IT shares led the declines, dropping 1.5% as investors grew cautious about the impact of a proposed $103,265 fee on new H-1B visas from the US government.

Reliance Industries also fell 1.4%, despite support from softer oil prices, which could have otherwise helped boost its value.