Indian IT and Pharma stocks fell ahead of the swearing-in of Donald Trump as the next President of the United States.

Shares in Infosys were down one per cent, MindTree was down 3 per cent, while TCS, Wipro and Tech Mahindra all lost ground. From the pharma space Divis Labs was down 2 per cent, while stocks like Lupin, Aurobindo, Dr Reddy's, Cadilla Health and Sun Pharma were all trading lower.

On the other hand IT stocks have been hit, as Trump is a known advocate of protecting American jobs. Recently, there was a proposed bill to hike the minimum wage for foreign workers in the US who hold H1B visa from $60,000 to $100,000. This is likely to affect many large Indian IT companies, if the Bill sails through.

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