IT stocks fell for the second day in a row on Tuesday (September 23, 2025), amid concerns over the steep hike in U.S. H-1B visa fees.

Hexaware Technologies tumbled 5.04%, Mphasis declined 2.58%, Mastek Ltd lost 2.40%, Tech Mahindra fell by 2.07%, HCL Tech dipped 0.74%, Tata Consultancy Services (0.38%), Wipro (0.26%) and Infosys (0.16%) on the BSE.

The BSE IT index declined 0.63%to 34,769.38.

“FMCG, IT, and realty lagged, with IT feeling the impact of worries about rising US visa fees (H-1B) and their possible effect on earnings,” Ajit Mishra, SVP – Research at Religare Broking Ltd, said.

IT stocks also dropped on Monday (September 22, 2025).

Last week, the Trump administration announced a one-time $100,000 fee on H-1B visas.

All new H-1B visa petitions submitted after September 21, including those for the FY2026 lottery, will require payment of USD 100,000.

Notably, Indian tech professionals account for the bulk of H-1Bs— over 70%.