IT stocks slide as Oracle debt concerns, H-1B visa fee hike weigh on sector

Indian IT stocks came under pressure on Monday, with OFSS shares falling over 7% and major players Infosys, Wipro and Coforge declining up to 2%. The selloff was triggered by reports of Oracle facing an $18 billion data centre debt burden, raising concerns about the broader technology infrastructure sector.

Additionally, US President Donald Trump's decision to extend the $100,000 H-1B visa fee for another year added to sector headwinds. The H-1B visa increase affects Indian IT firms that rely on skilled worker placements in the United States.