US may Change Work Visa, IT Sector Shares in India

Due to the stir in the IT sector and the statement of the President of China on the trade war, the Indian stock recorded a big fall on the last trading day of the week. At the end of trading, the Sensex fell 215.76 points, or 0.53 per cent, to the level of 40,360 points. Similarly, the Nifty closed at the level of 11,915 points, down by 54 points i.e. 0.45 percent. This is the second consecutive day when the Sensex and Nifty are at the red mark at the end of trading.

IT Sector Shareholding
The shares of IT sector were battered on Friday. Talking about BSE index, Infosys shares fell 2.89 per cent to close at Rs 693.15 at the end of trading. Similarly, TCS declined by 2.20 percent and remained at Rs 2070.55. At the same time, shares of Wipro fell 1.82 per cent to Rs 243.05.

The reason for the decline in the share of IT sector is the news about American work visa. According to media reports, the US administration can change the work visa for migrants. If this happens, it will have an impact on India's IT professionals. This is the reason that there was a sell-off in the stock of IT sector.

Big statement from the President of China on trade war

Meanwhile, Chinese President Xi Jinping has made a big statement about trade war with America. He has said that he wants to work for a trade agreement with the US but if there is any kind of 'struggle', he is ready for that too. Xi said, "As we have always said that China does not want to start a trade war, but it does not panic. We will respond when needed, but are now actively pursuing a trade deal. "Following the statement by Xi Jinping, now the US President Donald Trump is making a counterattack.