2025-03-25 10:29:33 am | Source: Geojit Financial Services Ltd
Morning Market Quote : IT Underperforms Amid US Growth Slowdown Fears for Indian IT Says Dr. V K Vijayakumar, Geojit Financial Services
Below the Quote on Morning Market by Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited
"The 5.6% rally in the Nifty from the recent lows has been driven by a combination of factors like FIIs turning buyers (Rs 13765 crores in the last three days), the consequent short-covering and improving macros of the Indian economy. The surge in mid and smallcaps has brought the retail investors aggressively back into the market. Even though the market momentum favours the bulls there is no fundamental support to take the market much higher from the present levels, particularly when President Trump’s Damocles sword of reciprocal tariff is hanging over the head of markets.
IT has been underperforming on fears on US growth slowdown impacting the Indian IT industry. The risk-reward in IT stocks is now favourable for buyers. Trump’s latest message that he will be “flexible” on tariffs and will “give breaks to many countries” has aroused hopes on some softer treatment to India. But we will have to wait till April 2nd.
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