Indian IT Stocks Drop 3rd Day Ahead of Fed Rate Decision

• Indian IT stocks extended losses for a third consecutive day, falling up to 4%.
• Investor caution ahead of the Federal Reserve's FOMC meeting outcome is a key factor.
• Analysts anticipate a "hawkish cut" from the Fed, with a 25 basis point rate reduction but a tighter monetary stance.
• The Fed's decision is crucial for Indian IT firms due to their significant revenue from the US market.
• Persistent Systems and Coforge were among the top IT losers, while Wipro and HCLTech traded positively.

Why It Matters: US Fed's decision directly impacts Indian IT stocks due to US market exposure.