Accenture results signal positive cues for Indian IT firms

Robust guidance backed by growth across segments and better pricing mean higher rupee earnings amidst a strong dollar

Accenture’s latest results indicate that the IT sector could be a hedge against a falling trend in the broader market. The US-listed IT major declared strong results and guidance for the future. This should also hold true for other IT companies.

The US Fed’s latest monetary policy review has shaken financial markets. The FOMC has accelerated the pace of taper of its monthly bond-buying programme. It has also indicated it will hike the USD Federal Funds policy rates at least three times in calendar 2022, by increments of 25 basis points each time. The tightening of liquidity and the likely