IT stocks in focus after continuous rally on Nasdaq. Details here3 min read 23 Jul 2022, 02:17 PM IST
Stocks in focus: IT stocks constitute around 48 per cent of net strength of the tech heavy Nasdaq index
Stocks in focus: Following rally at US' Nasdaq index in last one month, IT and tech stocks on the Dalal Street have suddenly started grabbing attention of bulls. Talks of IT stocks bottoming out have started to resurface as Nasdaq is heavily dominated by IT stocks and Indian IT stocks closely follow the movement of Nasdaq Composite index at the Wall Street. In last one week, Nasdaq rallied on three successive sessions whereas Indian IT majors like TCS, Wipro, Infosys, Tata Elxsi, etc. have registered up to 5 per cent rise in last one week. As 5 big tech stocks listed at Nasdaq — Microsoft, Google, Meta Platforms, Apple and Amazon are going to announce its quarterly earning next week, Indian bulls are expecting trend reversal in Indian IT stocks, if these tech giants manages to give strong earnings next week.
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