Recession fears can pull IT stocks lower

The Nifty IT index declined 3.5% on Monday, its highest decline in two-and-a-half months after the US Federal Reserve Chairperson Jerome Powell on Friday emphasized that the central bank’s priority remains controlling inflation even if higher interest rates lead to lower economic growth.

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Our selection criteria focused on stocks with a market capitalisation below Rs 1,000 crore, a share price under Rs 20, and a minimum trading volume