IT Stocks Outlook For The Week - 26 to 30.11.2018
Stocks of information technology companies are expected to remain subdued next week as rupee continues to strengthen against the US dollar. An appreciation in the Indian currency against the US dollar affects sentiment for the Indian IT companies, as they earn a major share of their revenue in dollar terms. The Nifty IT index has fallen over 7% so far this month. The current levels of technology stocks, however, are closer to their historical long-term averages, which make them attractive to buy.
Source : Cogencis Information Services Ltd.
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Stocks of information technology companies are expected to remain subdued next week as rupee continues to strengthen against the US dollar. An appreciation in the Indian currency against the US dollar affects sentiment for the Indian IT companies, as they earn a major share of their revenue in dollar terms. The Nifty IT index has fallen over 7% so far this month. The current levels of technology stocks, however, are closer to their historical long-term averages, which make them attractive to buy.
Source : Cogencis Information Services Ltd.
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