Nifty IT Stocks Fall: Profit Booking, US Data, Citi Report Hit HCLTech, TCS, Mphasis

• Nifty IT index fell by about 1%, with all ten constituent stocks trading in the red.
• HCLTech saw the steepest decline of nearly 2%, followed by Mphasis and OFSS.
• Reasons for the fall include profit booking after a 3-day rally.
• Caution ahead of US employment data, crucial for Indian IT, also impacted sentiment.
• A brokerage report from Citi, citing slow demand recovery, further pressured IT stocks.

Why It Matters: Indian IT stock fall affects investor returns and reflects market uncertainty.