GAGA Share Market News

[hfe_template id='11223'] [ad_1] Accenture’s latest earnings punched a 7% hole in its immediate market value and simultaneously sapped the enthusiasm of investors in Indian IT – the nearly $260-billion globalized industry that has the second-highest Nifty weighting after banking and financials. At first glance, several of the concerns highlighted by the Accenture management seem to equally apply to Tata Consultancy Services (TCS), Infosys, or HCLTechnologies – local bellwethers that are also the traditional favourites of overseas investors shopping for risk assets in Mumbai. More importantly, uncertainty over a durable – and sanguine - resumption of discretionary expenditure in the US and Europe’s richer neighbourhoods continues to cast an unwelcome shadow over the prospects of the listed Indian technology pureplay, with several brokerages holding out lessons in caution from Accenture’s earnings. While the parallels with Accenture should not be ignored, it is instructive...

[hfe_template id='11223'] [ad_1] Shares of Indian IT companies came under pressure during Monday's trading session following comments from Federal Reserve Chair Jerome Powell on Thursday. Powell suggested that the U.S. Federal Reserve is likely to slow down interest rate cuts in the coming months, citing persistent inflation and the need to monitor its trajectory before making further decisions. “The economy is not sending any signals that we need to be in a hurry to lower rates,” Powell said in a speech to business leaders in Dallas. "The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully." Powell emphasized that policymakers still view inflation as being "on a sustainable path to 2%," allowing the U.S. central bank to adjust monetary policy gradually without aiming to slow down the economy. Also Read: FPIs reduce pace of selling in Indian equities in two weeks of November However, the exact n...