IT Sector: The market is in a mood for recovery today on the basis of shopping returned in banking shares. The Nifty is seen climbing more than 100 points from the lower levels to close to 23950. The bank Nifty has run around 400 points. Midcap and smallcap stocks have also seen vigorous shopping today. But for the US and Europe, the weak outlook of Capzmini is also seeing pressure on Indian IT shares. In today’s business, the IT index slipped around 1.5 percent. The top loser of LTIM futures has been made by slipping more than 3 per cent. Also, there is pressure in TCS, Infosys and Tata Alexi.
Why decline in IT shares?
Today, Nifty IT is included in the most falling sector in the market. The market has been disappointed with the weak results of Capgemini and further outlook. The results to the company show that the booking in 2024 declined by 0.5 per cent to 23.8 billion euros on an annual basis. Constant currency income in North America, the largest market for the company, has declined by 4.1 per cent on an annual basis. The company’s income has also declined in Europe.
Starting shopping again by promoters, an auspicious sign, banking and consumption shares will fill the flight -Parrag Thakkar
Capgemini’s income declined by 3.5 per cent in domestic market France on annual basis
In the domestic market France, the company’s income has declined by 3.5 per cent on an annual basis. The company’s guidance states that Outlookhas is not good even for 2025. In 2025, the company’s Constant currency income is expected to be between -2 per cent to +2 per cent. The company has a cautious attitude in this uncertain atmosphere. There is a cautious attitude towards manufacturing and European market.
However, if you leave the short term problems, the long -term outlook of IT shares looks good. Market expert Sunil Subramaniam believes that IT and banking and other finance shares may increase further. IT stocks will benefit from dollar strength and weakness of rupee. Along with this, our IT companies are also expected to get big orders in the American economy. Due to AI, there are big opportunities for India’s mid and smallcap IT companies.
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