Recently the news has come on the internet that Gift Nifty futures traded lower late evening on 12 October 2023, Thursday suggesting that Indian markets could hit a rough patch at the beginning of Friday and trade explosive, thanks to dispiriting results by the IT gainst Infy and TCS. Since the news came on the internet it went viral on social media platforms. Currently, this news has been gaining a huge attention from the people as lots of people are super curious to know about the whole information. In this article, we will try to give complete information about the news, so let’s continue the article.
As per the report, late Thursday evening GIFT Nifty futures locked at 19,794, 84 points below the Nifty, with Infi ADR trading 6.62% more down at $16.45 at the time of writing. This was in reaction to the firm cutting its earnings direction for FY2014, a day after TCS missed analysts’ anticipations on both earnings and profit. TCS stock closed 1.85% lower at ₹3543 on Thursday. Currently, the news has been making headlines on the internet as many people are super keen to know about it. Scroll down to the next page for more information about the news.
The market is probably to remain under pressure because of a disappointing show by the IT majors,” stated Dhiraj Relli, MD & CEO, HDFC Securities.”The challenge of more increased rates in the US will resume to remain an overhang with agreement renegotiations .”Independent market analyst Ambrish Baliga anticipates IT stocks to remain under pressure when the market is available on Friday due to selling by FPIs. FPIs sold provisionals worth ₹1862.6 crore and index futures for ₹253 crore on Thursday. You are on the right page for more information about the news, so please read the complete article.
Infosys Ltd and HCL Technologies Ltd on Thursday stated their 2023-2024 revenue development is going to be weaker than earlier forecasts as their large foreign customers tighten purse strings amid economic uncertainties. Tata Consultancy Services Ltd., India’s most extensive tech services company, already seeing earnings decline in the second quarter, indicating a disappointing year for at least three of India’s biggest tech companies. Unlike TCS, both Infosys and HCL beat analyst’s assessments in the September quarter. Analysts have been concerned about the companies about the companies outlook and management commentary for the second half of the year. Here we have shared all the information that we had. Stay tuned to us for more updates.