Nifty IT

The IT sector is witnessing weaker deal momentum and cautious client spending, according to analysts

Technical outlook on Nifty IT, large-cap technology stocks: The IT index along-with Infosys, TCS, HCL Technologies, Tech Mahindra and Wipro look poised for further losses from present levels.

At 9:57 AM, the Nifty IT index was trading lower by 2.30 per cent, at 39,612. It touched an intra-day low of 39,465.75 during the session so far.

The drop in the company's share price aligns with the dividend announcement it has made for its shareholders, as the company's shares trade ex-dividend today

IT, pharma, cement, and other sectors look attractive to analysts with no pre-budget rally in picture

The Nifty IT Index is exhibiting a clear bearish trend in the near term, prompting traders to adopt a cautious stance

Stock Market Today: The Nifty IT Index today is exhibiting a bearish trend in the near-term with charts signaling further downside potential

The Nifty IT index outperformed the Nifty 50 and the broader index in the second-half of 2024 with a gain of nearly 20%. Key levels to track on IT shares ahead of Q3 results.

Stock Market Today: The Nifty IT index, eventually, settled 2.6 per cent lower on the National Stock Exchange (NSE) at 44,954 level. By comparison, the Nifty50 index ended 1.5 per cent down at 23,587

Stock Market Today: The Nifty IT Index is facing mixed sentiments post the recent Accenture earnings, which might uplift IT stocks temporarily. However, a closer look at the charts suggests caution

The rupee fell 2 paise to near all-time low of 84.85 against the US dollar in early trade on Thursday on the back of foreign fund outflows and rising crude oil prices

Stock Market Today: The best trading strategy at this juncture is to book profits on the rise in Nifty IT index and wait for the index to retrace towards its support levels

By 11:11 AM, the Nifty IT index had come off its peak but was still trading 0.82 per cent higher at 45,199.40. In comparison, the broader Nifty50 index was up a modest 0.11 per cent at 24,646.30

Nifty IT index remains range-bound, trading between 44,400 on the upper side and 42,800 on the lower side, while, Nifty Auto index is currently exhibiting a bearish trend in the near term

The Nifty IT index has recently witnessed a sharp rally, while Nifty Auto is currently in a consolidation phase following a sharp correction

The Nifty IT Index is exhibiting a bullish trend on the charts, while Nifty Auto is indicating that any decisive move above or below 24,250 and 23,250 levels could signal a new trend direction

The Nifty IT, Auto, and Pharma indices are all exhibiting short-term downtrends, and the technical indicators suggest limited upside potential

Accenture share price: While a strong recovery in discretionary demand may take a few quarters, it is unlikely to worsen further, analysts said after Q4 results

The surge in IT stocks was fuelled by the US Federal Reserve's decision to cut interest rates by 50 basis points, lowering the target range to 4.75 per cent to 5 per cent.

Traders should closely monitor this level, as any breach could lead to further downside, and the market might see a sell-off in auto stocks.