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Brokerage firms including Citigroup Inc. and Jefferies Financial Group Inc. are now sounding caution on the sector’s outperformance, citing rich valuations and tepid growth prospects.
The NSE Nifty IT Index of 10 software majors has surged about 17% since late October, beating the NSE Nifty 50 index. While the rally was initially driven by a global rebound in tech stocks, the US Federal Reserves dovish pivot at the December policy meeting turbocharged the run.
The NSE Nifty IT Index of 10 software majors has surged about 17% since late October, beating the NSE Nifty 50 index. While the rally was initially driven by a global rebound in tech stocks, the US Federal Reserve’s dovish pivot at the December policy meeting turbocharged the run.