The Nifty IT index fell 3.5 percent in intraday trade on Friday. This was the single biggest fall that has been seen in the last three months. In fact, all the top five losers on the Nifty50 today were IT stocks.
This time, however, the reasons for the fall are different. The index rose strongly for the last two years. In 2020 and in 2021, the Nifty IT index had seen a gain of more than 50 percent. Now, the frothy valuations are getting corrected. Brokerages are still playing the long theme but are also getting
Even the SIP inflow number in the month of November was just Rs 2000-2,500 crore and this indicates with rising interest rates people are moving away from equities and now investing more in debt.
Credit Suisse says that there is a high risk of revenue cuts if US growth slows further. IT expects moderate 2-4 percent EPS cut and a two percent constant currency revenue cut when compared year-on-year.
For more, watch the accompanying video
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha Elections 2024 | Assault allegations or political accusations— what's Swati Maliwal controversy all about
May 19, 2024 2:25 PM
Phase five Lok Sabha polls: Rae Bareli, Amethi among 14 UP seats going to polls on Monday
May 19, 2024 1:03 PM