The BSE IT index also shed nearly 2.50% to end the day as the worst performer. The index comprises ten stocks, all of which ended the day in the red.
The ADR of Infosys Technologies was down nearly 4%, or $2.09, to close at $51.47 on Monday, while Wipros ADR fell over 2% to close at $15.22. The ADR of Satyam Computer lost 3.53%, or $0.84, to close at $22.93.
At home, Infosys, Wipro, Satyam and TCS all ended Tuesday with losses. Infosys, Wipro and Satyam lost in a range of 3-4% and TCS lost less than 1%. Analysts said the tech tumble was largely due to valuation worries in the US, prompting investors to sell in overseas markets. A rising rupee also acted as a catalyst with many investors resorting to profit-booking at higher levels.
Patni Computers, Mphasis BFL, i-Flex, Hexaware, HCL Technologies, Geometric Software Solutions, CMC, Kale Consultants, Tulip IT Services and Sasken Communication Technologies also ended the day in negative territory.