Technology stocks battered on Friday with the Nifty IT index falling nearly 3 percent after the immigration reform re-introduced in the US House of Representatives by Congressmen. Stocks fell for the second consecutive session.
The Protect and Grow American Jobs Act reintroduced on Thursday proposes to raise the minimum salary of H1B visa aspirants to USD 1 lakh per annum from the current USD 60,000. Besides, the proposed US immigration reforms seeks to make a Masters degree mandatory for H1B visa holders.