IT stocks may rally on Wednesday as Infosys and Wipro ADRs surged overnight, supported by strong gains in US tech stocks and easing fears of AI-driven disruption. Optimism over renewed Iran-US peace talks and falling crude prices softened macro concerns, boosting sentiment for Indian IT companies heavily exposed to the US market.
Microfinance lending dips as uneven monsoon alters the landscape
India’s microfinance sector contracted in the first quarter after a previous rebound. Uneven monsoon progress weighed on rural demand and lender caution grew. The sector’s