Indian markets, which would open after a gap of one day, are likely to open on a strong note following strong global markets. Among the sectors that have recently underperformed on relative terms, IT stocks are showing a good resumption of momentum on the upside. Source link
Mumbai: Morgan Stanley said continued headwinds and earnings downgrade cycle in the information technology sector have rendered the risk-reward unfavourable in the near term. The brokerage has downgraded Wipro and while selectively remaining overweight on , and . “Near-term headwinds and lack of catalysts could keep sector performance under pressure,” said Morgan Stanley. The IT … Read more
Although known to be a resilient sector to invest in times of global macro uncertainty, IT stocks may continue to witness pressure this time. Neelkanth Mishra, India Equity Strategist, Credit Suisse, says he has gone underweight on IT services sector because he sees a never-seen-before challenge of revenues coming under pressure. “The challenge is that … Read more