The Indian market concluded July on a robust note, extending their winning streak to a second consecutive month. This positive momentum has been driven by significant sector rotation, which has played a pivotal role in sustaining the indices at elevated levels. Despite some volatility experienced after the budget—prompted by the […]
IT stocks
Persistent Systems share price plunged over 7%, while L&T Technology Services share price was flat in early trade on Friday after the IT services companies reported their Q1 results. Both the Tier-II IT players announced their Q1 results on Thursday, July 18, along with IT major Infosys. Persistent Systems’ net […]
Extending its winning streak for the fourth consecutive trading session, the Nifty IT index achieved a significant milestone, crossing the 40,000 mark for the first time and hitting a new all-time high of 40,059 points, marking a gain of 2.10%. This milestone comes after the index first surpassed the 39,500 […]
Indian stock market: The Nifty has given a consolidation breakout on the daily chart, driven by a strong technical breakout in IT giants. The sentiment looks positive from here, as the indicators and popular overlays indicate a continuation of strength. Support is visible at 24,400, where significant short buildup has […]
In recent sessions, the Indian market struggled to sustain its bull run until TCS’s results provided a much-needed catalyst, setting a positive tone for the earnings season. Additionally, expectations of a Fed rate cut have further fueled the rally. The healthy numbers by the TCS for the June ending quarter […]
MUMBAI : Investors in information technology (IT) stocks are elated. Sector bellwether Tata Consultancy Services (TCS) Ltd has started FY25 on an upbeat note. In the June quarter (Q1FY25), TCS reported sequential constant currency revenue growth of 2.2%, beating the Street’s estimate of 1.5%. The improvement in revenue was partially […]
In a triumphant display of resilience, Indian benchmark indices powered through the current week, extending their bullish run for the fifth consecutive week, representing the longest weekly advance in CY24 so far. The recent indications of a potential rate cut by the US Federal Reserve, a rebound in FPI inflows, […]
Following a stellar performance in June with a double-digit gain, the Nifty IT index kicked off July on a strong footing as investor expectations grew that the U.S. Federal Reserve would cut interest rates in September. Amid this optimism, the Nifty IT index jumped 2.6% to 37,093 points in today’s […]
Global technology giant Accenture’s latest earnings sparked excitement among investors in Indian IT stocks. In Q3 FY24, Accenture clocked constant-currency (CC) revenue growth of 1.4% year-on-year, slightly above the mid-point of its adjusted guidance band. Accenture follows a September-August financial year. The Indian IT sector has been grappling with uncertain […]
The market had expected Prime Minister Modi securing a consecutive third term with an absolute majority in the lower house of Parliament which would have benefited the Indian economy and the stock market. Also read: Election Results 2024: Here’s what to expect from Indian stock market and what should be […]