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IT stocks today: The rise in IT stocks comes amid a decline in Indian Rupee against the US dollar
Technical outlook on IT stocks: Infosys, TCS HCL Technologies and Tech Mahindra may slip up to 9% from present levels, suggest charts.
IT stocks falling today: The Nifty IT index fell 1.4 per cent intraday to hit a low of 36,770.15. Among individual stocks, Mphasis tumbled 6.7 per cent, Persistent Systems and HCL Tech 1.8 per cent
The market breadth turned positive, with 1,510 out of 2,947 traded stocks on the NSE ending in the green, while 1,373 closed lower and 64 remained unchanged
IT stocks jumped in trade after a US federal court on Wednesday (local time) blocked President Donald Trump from imposing broad tariffs on imports under an emergency-powers law.
Among the sectoral market, shares of auto, FMCG, and IT companies were under pressure, while public sector banks, pharma, and realty bucked the trend and logged gains
Among sectoral indices, all but select healthcare ended in the green, with the Nifty Auto, and Nifty IT indices leading the way, gaining 1.05 per cent and 1.02 per cent, respectively
The Sensex settled at 81,721.63, up 769.09 points or 0.95 per cent, while the Nifty50 closed at 24,853.15, gaining 243.45 points or 0.99 per cent.
Moody's downgrades US rating: Analysts see IT sector taking longer-than-expected to yield returns. Investors, they believe, should brace for near-term pressure
IT stocks slipped after Moody's downgraded the US credit rating to 'AA1', with analysts calling the fall a knee-jerk reaction due to US market reliance
Going ahead, markets may maintain the prevailing recovery tone, with key support at 23,600-24,200 zone in Nifty and 77,800-79,850 zone in Sensex
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
Technical charts suggest that IT major shares - Infosys, TCS and Wipro can potentially bounce back up to 18% from present levels; here are the key levels to watch out for.
CEO Srinivas Palia blames tariff war and macro woes for revenue slide
Voluntary attrition rose to 15 per cent from 14.2 per cent a year earlier
India's fourth largest software company continues to underperform compared to peers
Accenture said its federal services unit is facing a slowdown as the US General Services Administration instructed all federal agencies to review their contracts
The banking and financial services sector - which makes up nearly a third of revenue for India's biggest software exporter - remains unaffected, said the CEO
US Defense Secretary Pete Hegseth estimates the Pentagon will save nearly $4 billion from the terminated IT and consulting contracts deemed non-essential