Shares in software stocks saw profit booking and dropped despite a rise in the benchmark indices. Shares in Infosys was down more then 1.5 per cent on the BSE, while HCL Tech, Tech Mahindra and TCS were the other stocks that fell in trade.
This saw some profit booking in IT shares, which tend to gain on the back of a falling rupee. Dealers say there has been renewed strength in the rupee on the back after US jobs data came in weaker then expected.
This has raised hopes that there would be a delay in hiking interest rates in the US, helping the rupee against against the dollar.