Accenture’s lowered revenue growth guidance triggered a sell-off in Indian IT stocks, with the Nifty IT index falling 1.5%. Investors are concerned about subdued discretionary IT spending and delayed recovery expectations. While Gen AI bookings showed growth, the momentum slowed, impacting future revenue projections. Interest rate cuts in the US could provide a positive trigger.
Positive Breakout: These 10 stocks cross above their 200 DMAs
In the Nifty 500 pack, 21 stocks closed above their 200-day moving average (DMA) on July 15. From these, we have highlighted 10 stocks that