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IT stocks slumped today after Cognizant’s weak guidance.
S&P BSE IT index falls as much as 3.45 per cent to the lowest since January 14.
Nasdaq-listed Cognizant Technology Solutions fell as much as 9.4 per cent after saying it expects the slowest revenue growth in 14 years for the year 2016.
Infosys Technologies fell as much as 4.98 per cent, and Tata Consultancy Services was down as much as 4.54 per cent.
BSE IT index had lost 5.6 per cent in the last 12 months as of Monday’s close.
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