IT Stocks Outlook For The Week - 24 To 28.12.2018
Stocks of information technology companies are likely to remain weak in the week ahead due to
subdued sentiment following the recent gains in rupee against the dollar. The Nifty IT index fell more than 4% this week, sharply higher than the fall in benchmark indices. Accenture's November quarter earnings, announced Thursday, could also weigh on shares of technology companies. The US major's guidance is seen as a precursor to Indian technology companies reporting weak-than-expected earnings in 2019 as corporates trim their spending on technology due to a trade war between the US and China, a volatile macro environment and a possible slowdown in global growth. Buying in technology companies could also be capped as the week ahead is holiday-truncated and investor participation is seen thin on account of a holiday mood. Markets will remain shut on Tuesday for Christmas.
Source : Cogencis Information Services Ltd.
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Stocks of information technology companies are likely to remain weak in the week ahead due to
subdued sentiment following the recent gains in rupee against the dollar. The Nifty IT index fell more than 4% this week, sharply higher than the fall in benchmark indices. Accenture's November quarter earnings, announced Thursday, could also weigh on shares of technology companies. The US major's guidance is seen as a precursor to Indian technology companies reporting weak-than-expected earnings in 2019 as corporates trim their spending on technology due to a trade war between the US and China, a volatile macro environment and a possible slowdown in global growth. Buying in technology companies could also be capped as the week ahead is holiday-truncated and investor participation is seen thin on account of a holiday mood. Markets will remain shut on Tuesday for Christmas.
Source : Cogencis Information Services Ltd.
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