Nuvama, in a recent report, upgraded the IT sector to 'Overweight' from 'Underweight', noting that the space has largely become a trading and relative valuation call
Apart from Nifty, 1 in every 4 stocks traded on NSE on Sept 4 recorded the day's high at open, and closed near the day's low; thus forming a 'Bearish Marubozu' candlestick pattern on the daily chart.
According to the Nuvama report, the deflationary impulse from tariff-driven global slowdown is likely to hurt domestic cyclicals the most.
Infosys Chairman Nandan Nilekani says India will be the hub for applying AI and frugal engineering, citing Aadhaar, UPI and small language models as key to mass-scale adoption
The Nifty IT index has fallen by 18.1 per cent so far this year, the worst among key sectors. During the same period, Nifty has risen by 3.8 per cent
Among individual stocks, Infosys, Wipro, Oracle Financial Services Software, and Mphasis shares rose 3 per cent each on Monday