Valuations in Indian IT stocks have become attractive amid AI disruption concerns, but S Naren of ICICI Prudential AMC stresses that low multiples alone are insufficient. Clarity on long-term growth and AI's true impact is crucial for investor confidence and potential upside in the sector.
In the NSE list of stocks with a market cap over Rs 10,000 crore, nine stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on February 20, according to stockedge.com's technical scan data. The 200-day daily moving average (DMA) is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:
The dollar weakened as the U.S. Supreme Court struck down most of President Trump's tariffs, seen as supportive for global growth. Despite this, Middle East tensions and confusion over replacement levies kept currency moves modest. Analysts suggest the decision constrains Trump's tariff power, with longer-term fiscal implications for the dollar remaining unclear.
Clean Max Enviro Energy Solutions, India's top renewable energy provider for businesses, is set to raise funds through an IPO. The company aims to repay debt and expand its operations. It serves commercial and industrial clients with solar and wind power. Financials show revenue growth and a recent return to profitability.
Nifty is poised for a range-bound week, facing strong support near 25,200. Analysts suggest gains may be limited around 25,650. Traders are advised to watch for a decisive breakout. Specific stock recommendations include Bajaj Finance, Dixon Technologies, Bharat Electronics, Tata Steel, Navin Fluorine, and Colgate Palmolive. Strategies focus on navigating this anticipated market movement.
Indian markets approach Monday with cautious optimism following a US Supreme Court ruling on tariffs. While new levies are lower than initially feared, ongoing trade uncertainties and geopolitical tensions with Iran are expected to temper any significant gains. Analysts anticipate a modest rally, with investors now focusing on earnings and currency movements for future direction.
Indian IT stocks face increased bearish bets. Traders are positioning for future declines, with significant open interest build-up in IT stock futures. This trend intensifies following AI automation tool launches. The sector's growth trajectory is under scrutiny. Investors are closely watching upcoming contract expiries for further directional cues.
According to Nielsen and Adobe Analytics, NBC averaged 24 million viewers across its prime afternoon coverage (2-5 p.m. EST) and Primetime in Milan (8-11 p.m. EST and PST) through Friday.
