Key Points
Having received a strong boost from the US Feds pivotal stance last week that helped Nifty IT index end with weekly gains of 8%, Indian technology stocks are set for another leg of rally next year, analysts observed as they brush aside fears of a US slowdown...
The rally helped IT stocks shed the tag of underperformers as the Nifty IT indexs 1-year gains jumped to 24%, outclassing all its sectoral peers..
The broader Niftys 12-month gains stand at 16%...
Analyst Pankaj Murarka, CIO at Renaissance Investment Managers, said the slowdown is in an inflationary environment and unless it is very deep recession, it will not be bad for the US economy, which is currently overheated...
Commenting on the IT sector's change of fortunes, DD Mishra, Senior Director Analyst at Gartner, said he had been very consistent in telling that 2024 would be the return of growth and the mood remains very positive at this point for IT services for next two to three years, he told ET Now.. (Subscribe to ETMarkets WhatsApp channel)..
You might be interested in
Sensex crashes 1,000 points from day's high. Early signs of a U-turn?
20, Dec, 23The fall was sharper in the Nifty Midcap and Nifty Smallcap indices - each of them tumbled around 2%. FMCG was the only sectoral index trading in the green, while banks and IT indices were trading around 0.5% lower. The fall was sharper in auto, media, metal, PSU banks, and realty stocks. In percentage terms, today's decline in Nifty was the biggest single-day loss since October 26. In the last one month alone, the index is up over 1,500 points or about 7.6%.
Economic growth to remain strong at 6.2% in 2024; private consumption and public spending to provide suppo
05, Jan, 24The UN projects India's economy to grow at 6.2% in 2024, citing robust domestic demand and sectoral growth. Despite a slight downward revision, the forecast underscores resilience, supported by government spending and supply chain diversification.
Sensex, Nifty rise in early trade; metal stocks under pressure
24, Feb, 23A broad-based decline was seen in metal stocks, with 11 of 15 stocks trading in the red. Hindalco, down nearly 3.5 per cent, was the top loser on the Nifty 50 index.
Be cautious; this is not the time to buy on dips: Dipan Mehta
21, Dec, 23“Take some profits off on companies where price to earnings multiples are beyond 50-60 times trailing 12 months could be private sector defence contractors. It could be some of the newly listed stocks as well which are engaged in different businesses trading at very rich multiples. You could even consider adding specialty chemicals to that list where trading multiples are quite rich.”
December beats November to give Nifty best returns in 1.5 years
29, Dec, 23As against Nifty's 20% rise in the calendar year 2023, the midcap index is up by almost 45% and the smallcap index is up by 55%. This trend is likely to be reversed in 2024, according to analysts.
Stock market today: Why BSE Sensex climbed over 900 points from day's low - top reasons for recovery
21, Dec, 23India Business News: The S&P BSE Sensex surged by more than 900 points from its intra-day low of 69,920, while the Nifty climbed by 300 points to reach a high of 21,288. H
ICICI Bank, Reliance will take the market to next level: Rahul Chadha
24, Apr, 23The current rally in the Indian market will be driven by the domestic sector, according to a statement by Rahul Chadha of Mirae Asset Global Investments. Investors should take a medium-term view as the next three to four months would be challenging due to the US economy slowing down which would affect the export sector. Although Indias luxury market is on an uptick, there are not many plays in that segment. Rremain invested in the Indian market by looking for entry points in the challenging times.
ETMarkets Smart Talk: Retail money fueling rally in small & midcaps; expect modest return in FY25: Ramkuma
17, Mar, 24Ramkumar K, Chief Investment Officer, Reliance General Insurance, advises caution in selecting sectors and scrips due to emerging exuberance pockets, with modest equity returns expected. Watch FY25 for market movements, global policies, US elections, interest rate cuts, large banks, bad assets, energy sector as well as FIIs' interest in small & midcap stocks.
Less than 10 Nifty stocks give double-digit returns in Q2; can the largecaps find favour in Q3?
29, Sep, 23The Nifty 50 net gained about 2% in the current quarter, compared to the 10% gains it clocked in the June quarter.
Defensive no more? 40 defensive stocks trading above 5-yr average P/E
06, Apr, 23Further in the list are chemicals and information technology companies. While 11 stocks are trading above average in the chemicals sector, 13 stocks are in the technology sector.