Israel-Iran war, June 19 -- Shares of IT companies fell sharply in Thursday's trading session despite US Federal Reserve kept the key interest rates unchanged and on rising worries of Israel-Iran war.

Despite holding interest rates unchanged for the sixth consecutive meeting, the Federal Reserve reaffirmed expectations for two rate cuts in 2025, as shown in the updated "dot plot," which outlines forecasts from individual policymakers. However, the Fed lowered its projected rate cuts for 2026 and 2027, indicating a slower pace of monetary easing in the longer term.

After the announcement, Indian IT stocks faced selling pressure. The steep decline in IT stocks dragged the Nifty IT index down by almost 1 per cent during early trading.

Cyi...