IT Index

As per an analysis by Nuvama Alternative & Quantitative Research, companies in the information technology (IT) sector found favour among fund managers following a sharp correction in the IT index

Stock Market Today: The Nifty IT Index is facing mixed sentiments post the recent Accenture earnings, which might uplift IT stocks temporarily. However, a closer look at the charts suggests caution

For the Indian IT services sector, which derives over 60 per cent of its revenues from the US, the Fed's cautious stance has mixed implications

By 11:11 AM, the Nifty IT index had come off its peak but was still trading 0.82 per cent higher at 45,199.40. In comparison, the broader Nifty50 index was up a modest 0.11 per cent at 24,646.30

The surge in share price came on the back of a divided announcement, coupled with Accenture's Q3 performance, which met street expectations

As of 6:39 AM, GIFT Nifty futures showed a slight increase, trading 7 points higher at 23,589.5 from their previous close

Investors though should be selective; analysts more positive on Infosys and Persistent Systems

BSE IT index drops 3.2%; Midcaps see deeper cuts

Infy's weak numbers triggers selloff in other IT shares

The Sensex rose 77 points, or 0.13 per cent, to close at a fresh lifetime high of 60,136

The $1.9 trillion Covid relief bill stimulus, if passed, will boost the US economy and will, in turn, positively impact the IT industry, ICICI Securities said in a note

Demand to improve as IT spending is expected to increase across sectors

With this deal, TechM will assume management of many of the applications which support AT&T's network and shared systems.

A bottom-up bet on stocks of companies proactive in digital and other new technology areas could still pay off

The IT index has traditionally been a good hedge when the broad market goes bearish