IT stocks fall for third day as CLSA flags weak demand

The Nifty IT index fell 1.5% for a third session, with LTIMindtree, HCLTech and Mphasis leading losses. CLSA said cautious demand commentary, geopolitics, higher interest rates and inflation could weigh on earnings. It retained Hold ratings on TCS, Infosys and HCLTech and Underperform on Wipro.