Page 20 - It Sector News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Ajay Bagga believes that the worst is over for the IT sector, although the recovery will be slow. He emphasizes the importance of embracing technologies like generative AI and machine learning to add value and attract market rewards. The midcap rally in the market continues, driven by unexpected movements from foreign institutional investors (FIIs). The recent selloff of shares worth Rs 23,000 crore by FIIs may be related to the withdrawal of Chinese and foreign investments in China. The earnings season has been tepid so far.

Exports reach $303m in Dec, higher than 12-month average of $222m

The market is currently within a tight range, with Nifty Future having a strong base at 21,200-21,300 and resistance at 21,600-21,650. A break below 21,300 or a move beyond 21,600 will determine the market's direction. Bank Nifty faces resistance at 46,500. I am bullish on the IT sector, particularly Wipro, which offers a buying opportunity at Rs 480. Hind Petro is another strong stock in the OMC sector. Oracle Financials is a recommended buy, while Zee Entertainment is best avoided due to high volatility.

Just in 11 sessions of this new year 2024, the benchmark Nifty surpassed 22,000 while Sensex crossed the 73,000 mark for the first time ever on January 15.

While Accenture’s growth was driven by its promising work in the generative AI mega trend, TCS added $2 billion on-year to its brand value through consistent brand and marketing investments. Wipro is the only IT services company among the Top 10 whose brand value declined 7.6 percent