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At a time when the market is betting on a higher for longer global interest rate view, Accentures (ACN) weak revenue forecast is a negative read-through for the Indian IT firms, according to analysts. The Dublin-based company sees its revenue growth at 2-5 per cent in constant currency (cc) for the financial year 2024 (FY24), below the pre-Covid levels of 5-8 per cent for FY17-20. The weak projection, thus, signals that slower demand is likely to persist this year, and any recovery is unlikely i...

Indias top web developers include Suffescom, RisingMax, and LTTS. See the top web development businesses and professionals in Bangalore and Noida in this blog.

Market Gets Stronger Pharma Metals Top Gainers

The upgrade comes at a time when the BSE IT index is trading 13 per cent below levels seen in December 2021

IT stocks have bounced back in recent months, with the Nifty IT index hitting a fresh 52-week high on September 15. The upswing in sentiment can be attributed to improved order books of companies, stable US inflation, reduced fears of a US recession, and consolidation deals within IT companies.

The Nifty IT index was trading 0.7 per cent up at 31082.2.

After five months of gains, the Nifty index is set to end August with losses due to inflation concerns and higher interest rates. However, the Nifty IT pack is up 4% this month, driven by the positive outlook for the US economy and the expected demand for AI-related work.

The Nifty IT index was trading 0.41 per cent up at 30899.35.

The Nifty IT index closed 0.3 per cent up at 30866.05.

The Nifty IT index closed 0.46 per cent down at 30773.6.