Information Technology (IT) shares are under pressure falling by up to six percent on the National Stock Exchange (NSE) in early morning deals after US President Donald Trump announced a temporary suspension of immigration into the country.

Share Market Live

NSE

Tata Consultancy Services (TCS), Infosys, Tech Mahindra, Wipro, HCL Technologies, Hexaware Technologies, NIIT Technologies and Mindtree are down 1 percent to 5 percent on the NSE in intra-day trade.

“In light of the attack from the Invisible Enemy, as well as the need to protect the jobs of our GREAT American Citizens, I will be signing an Executive Order to temporarily suspend immigration into the United States!,” the US President wrote in a Twitter post.

In light of the attack from the Invisible Enemy, as well as the need to protect the jobs of our GREAT American Citizens, I will be signing an Executive Order to temporarily suspend immigration into the United States!

— Donald J. Trump (@realDonaldTrump) April 21, 2020

Trump said that he was taking the action to protect the US workforce as millions of Americans were suffering unemployment after the companies shed employees amid nationwide lockdowns.

Details of Trump's executive order are yet to be known. However, there is no specific mention of the H-1B, the non-immigrant visa, which is more popular among Indian IT professionals. Only earlier this month, the US government had allowed applicants for H1B visas to continue in the country.

In response to a CNBC-TV18 query about whether the USCIS would extend the validity of H1B and other categories of visas for Indian nationals, a USCIS spokesperson said, "US Citizenship and Immigration Services has taken steps to help individuals, employers, and others address some of the immigration-related challenges they face as a direct result of the COVID-19 national emergency."

"USCIS continues to analyze issues and other possible steps the agency may take to further address some of these challenges and will consider the public's recommendations," the spokesperson added.

Indian IT professionals on H1B visas have been worried about the possibility of lay-offs due to the coronavirus pandemic.

Catch all the latest updates from the stock market here.