IT Stocks Outlook For The Week - 29.10.2018 To 02.11.2018
Stocks of information technology companies are expected to fall in the upcoming week as selling pressure is likely to continue. The trend in IT stocks has reversed and outlook for short-to-medium term looks bearish. Technology stocks had risen significantly over the last few months due to the rupee's weakness against the dollar. Indian IT companies earn half of their revenue in dollar terms. We expect the selling pressure to be low on stocks of Tata Consultancy Services Ltd and Infosys Ltd, as they have already fallen comparatively due to higher valuations.
Source : Cogencis Information Services Ltd.
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Stocks of information technology companies are expected to fall in the upcoming week as selling pressure is likely to continue. The trend in IT stocks has reversed and outlook for short-to-medium term looks bearish. Technology stocks had risen significantly over the last few months due to the rupee's weakness against the dollar. Indian IT companies earn half of their revenue in dollar terms. We expect the selling pressure to be low on stocks of Tata Consultancy Services Ltd and Infosys Ltd, as they have already fallen comparatively due to higher valuations.
Source : Cogencis Information Services Ltd.
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