Kotak Institutional Equities’ Sanjeev Prasad suggests a potential IT sector backstop due to already priced-in bad news and company cash reserves, despite unglamorous guidance. He questions high valuations across sectors, considering weaker short-term growth, medium-term disruptions, and elevated global bond yields.
Nifty ends flat as resistance holds; cautious optimism likely for coming week
Nifty traded range-bound, closing nearly flat despite an RBI rate cut, as resistance near 26,300 capped gains. Weak market breadth and muted broader indices signal