IT stocks brace for more pain post muted Q1 show; analysts share strategy

The Nifty IT index has fallen by 18.3 per cent so far this year, the worst among key sectors. During the same period, Nifty has risen by 4.7 per cent

Investors in India's information technology companies are likely in for pain ahead as muted first-quarter earnings play spoilsport to the worst-performing sector this year at the bourses amid macro uncertainties. Investors, analysts suggest, can look for better opportunities in the markets as things stand.

 

The Nifty IT index is set for three straight quarters of underperformance against the benchmark Nifty 50, and has fallen by 18.3 per cent so far this year, the worst among key sectors. During the same period, Nifty has risen by 4.7 per cent.

 

Year-to-date, all 10 constituents of the index have