IT Stocks Outlook For The Week - 05 To 09.11.2018
Shares of information technology companies are expected to move in a thin range with downward
bias next week due to strengthening of rupee against the US dollar. Indian IT companies earn a major share of their revenue in dollar terms and a strong rupee against the US dollar weighs on the investor sentiment, as it may hurt the margins and revenues. Movement of the Indian currency and the broad market trend will be closely watched during next week. Next week, equity markets will be closed on Wednesday and Thursday for Diwali.
Source : Cogencis Information Services Ltd.
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Shares of information technology companies are expected to move in a thin range with downward
bias next week due to strengthening of rupee against the US dollar. Indian IT companies earn a major share of their revenue in dollar terms and a strong rupee against the US dollar weighs on the investor sentiment, as it may hurt the margins and revenues. Movement of the Indian currency and the broad market trend will be closely watched during next week. Next week, equity markets will be closed on Wednesday and Thursday for Diwali.
Source : Cogencis Information Services Ltd.
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