Page 8 - Nifty It Index

IT shares in focus; TCS hits 9-mth high; Tech Mahindra surges 11% in 2 days

Thus far in calendar year 2023, the Nifty IT index has outperformed the market by surging 10 per cent, as compared to 0.55 per cent decline in the Nifty 50

Ravi Nathani recommends to wait for correction to complete in these sectors

According to the technical analyst, the Nifty Realty, Pharma and Media index and its constituents can be accumulated once the corrective move is over.

IT stocks extend gain; Persistent Systems, Coforge rise up to 16% in a week

Since January 6, the IT index rallied 9 per cent, as compared to 1.6 per cent rise in the Nifty50

Positive trend ahead for Nifty IT, bearish on metal index: Ravi Nathani

As per the technical analyst, the best trading strategy for traders would be to buy Nifty IT either at the current market price or at dips, with a target of 31,500

Nifty trading range has narrowed down, says Ravi Nathani

According to the technical analyst, the near-term trading range on the Nifty is 18,149 - 17,760, close above or below would add trigger in the direction.

HCL Tech Q3: Weak macros, narrow FY23 guidance limit upside, warn analysts

In Friday's trade, the stock gained marginally to close at Rs 1,077 per share, as against 0.5 per cent rise in the S&P BSE Sensex

Nifty consolidating in the range of 17,775 - 18,265, says Ravi Nathani

According to the technical analyst, a big move on the Nifty is likely once the trading range is dismissed.

Wipro Q3 revenues may rise up to 3% QoQ; flattish margins likely: Analysts

On the bourses, Wipro underperformed peers as shares dropped 0.5 per cent, while TCS, HCL Technologies, and Infosys rose up to 11 per cent in Q3FY23

HCL Tech revenues may rise up to 6% QoQ to Rs 26,214 cr in Q3FY23: Analysts

HCL Tech Q3 preview: As per five brokerage estimates, analysts peg EBIT margins to see an uptick in the range of 53-60 basis points (bps) QoQ to 18.5 per cent in Q3FY23

Resistance for Nifty seen at 18,140, says Ravi Nathani

According to the technical analyst, the if the NSE Nifty 50 benchmark surpasses the resistance a rally to 18,265 seems likely.

Nifty IT index likely to consolidate, FMCG looks weak, says Ravi Nathani

According to the technical analyst, the IT index is expected to consolidate between 30,600 - 26,300 range.

Nifty IT index slips 5% in two days on earnings, valuation worries

Recently, HCL Technologies said that its FY23 revenue could be at the lower end of the guidance; Credit Suisse warned valuation-led correction in these stocks amid US macro headwinds.

IT sector may be ripe for cherry picking; analysts more positive on Infosys

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

Nifty IT index surges 2%; Infy, TCS, Tech Mahindra, Coforge gain up to 3%

The US market ended higher overnight, led by gains in technology stocks, after US Federal Reserve chairman indicated that the central bank may slow pace of rate hikes. Nasdaq Composite jumped 4.4%

IRCTC, Zomato, Infosys: Is investors' love for digital India over?

Some of the other 'digital / new-age' companies debuted at a steep valuation compared to the traditional technology firms. The rally fizzled out as they failed to make a decent profit

Infosys shares drop 2.6% despite buyback proposal, end at Rs 1,425

The stock underperformed both the Nifty and the Nifty IT index, which fell 1.5% and 2%, respectively

Infosys could announce a buyback along with its Q2FY23 results: Jefferies

However, they have not specified the quantum of the buyback the company could announce. Infosys is scheduled to announce its Q2-FY23 numbers on October 12

Are IT stocks a good contrarian bet from a one-year perspective?

Fears of a global recession have weighed heavily on domestic IT stocks. Amid concerns that the US and European clients may slash their IT budgets, do the sector valuations make them a contrarian bet?

IT shares extend fall; TCS, Wipro, Infy hit 52-week lows on growth concerns

In the past two weeks, the Nifty IT index has tanked 10 per cent, as against a 5 per cent decline in the Nifty 50.

IT stocks bleed mirroring Nasdaq plunge; Nifty IT index down 3.4%

However, the latest downgrade by Goldman Sachs has come as a setback for the sector