Indian IT stocks set for worst week in 5 months
** Indian IT stocks .NIFTYIT slip 4% for the week; set for worst week since May
** Index top sectoral loser on benchmark Nifty 50 .NSEI, which is down 0.4%
** All 10 NIFTYIT constituents in red - heavyweights Infosys INFY.NS, TCS TCS.NS and Wipro WIPR.NS drop ~3% each, HCLTech HCLT.NS sheds ~4%
** Six of 10 stocks rated "buy", rest "hold" - LSEG
** Index's drop tracks decline in Asian IT stocks after Meta META.O flagged rising AI costs
** Investors are using the global drop in tech stocks as a cue to book profits in domestic IT companies today, says Raghvendra Nath of LadderUp Wealth Management
** NIFTYIT was an outlier on Nifty 50 this month until Thursday, falling 0.7% in October vs Nifty's 5.7% decline
** YTD, NIFTYIT up ~14% vs Nifty 50's ~12% climb
Reporting by Kashish Tandon in Bengaluru
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