Infosys and other IT stocks slip up to 2% as profit-taking sets in after buyback-fueled rally, Fed caution looms

Infosys and other Indian IT shares fell on Monday as investors booked profits after last weeks 4.3% sector rally, spurred by Infosys record Rs 18,000 crore buyback. Rising caution ahead of the US Federal Reserves policy meeting also weighed on sentiment. The Nifty IT index declined 1%, with Infosys slipping 1.6% to Rs 1,501.40.