Economy
IT Stocks Rally as Fed Rate-Hike Fears Subside
Moneycontrol17h
THE BRIEF
1
Shares of major Indian IT firms, including Infosys and TCS, surged 2-3% on Monday, pushing the Nifty IT index up by over 2%.
2
The rally was triggered by cooling fears regarding US Federal Reserve interest rate hikes, which had previously weighed heavily on the technology sector.
3
Analysts view this as a potential turning point for the industry, as improved global sentiment encourages investors to re-enter large-cap IT stocks.