I.T Stocks Outlook for the week – 04 to 08.01.2016
(Seen
trading with range bound volatility)
Stocks
of information technology companies are seen trading in a
narrow
range as investors and market participants are likely to refrain
from
decision making ahead of Oct-Dec earnings. Do not expect any
major
triggers in the sector ahead of earnings.
Infosys
Ltd, which will kick off the earnings season for the IT sector, will
detail
its earnings on Jan 14. Wipro Ltd is set to detail earnings on Jan 18.
The
Indian rupee, which has strengthened against the US dollar in the
last
three sessions, is expected to continue its upwards trend. The
appreciation
in the domestic unit will weigh on the IT sector as a majority
of them have clients based outside India.