GAGA Share Market News

[hfe_template id='11223'] [ad_1] Shares of Indian information technology companies fell sharply on Wednesday, with Coforge, Wipro and other major IT firms declining as much as 5.4%, amid a broader global equity sell-off triggered by renewed U.S.-China trade tensions. The Nifty IT index slid 2.4%, emerging as the biggest drag on benchmark indices, as investors reacted to Washington’s confirmation of steep 104% tariffs on Chinese imports, which are set to take effect after midnight. The tariff escalation, announced by former U.S. President Donald Trump, stoked fears of a protracted trade war and potential global stagflation, rattling equity markets across Asia and Wall Street. Shares of IT firms, which earn a significant portion of their revenue in U.S. dollars, including Coforge, Wipro, Mphasis, Tech Mahindra and Persistent Systems dropped between 3% and 5.4%. Other IT players like LTIMindtree, Infosys, HCL Technologies and Tata Consultancy Services declined between 1.5% ...

[hfe_template id='11223'] [ad_1] As uncertainty in the domestic equity market looms, investors of IT stocks face a peculiar dilemma of choosing between stability and growth potential. An analysis of top 10 tech counters shows tier-1 (top 5 by m-cap) scrips witnessing a relatively less severe fall in 2025 while trailing tier-2 (next 5) stocks in terms of 1-year returns. Average returns of top 5 IT stocks - Tata Consultancy Services (TCS), Infosys, HCL Technologies, Wipro and Tech Mahindra - on the year-to-date basis stand at negative 16% with the highest fall of 20% recorded in HCL Tech and the lowest fall of 13% in Wipro. Meanwhile, average 1-year returns of these stocks are at 4.4% with Tech Mahindra and Wipro remaining best performers with double-digit returns. In case of tier-2 stocks i.e. Oracle Financial Services Software (OFSS), Coforge, LTIMindtree, Persistent Systems and Mphasis, the average fall in 2025 so far stood at 22%. OFSS witnessed the steepest fall of 39...

[hfe_template id='11223'] [ad_1] Indian blue-chip equity indices, Sensex and Nifty50, fell on Friday, dragged down by drops in IT company Infosys and private lender Axis Bank following their quarterly results. The BSE Sensex was trading 430 points, or 0.56%, lower at 76,612. The Nifty50 was down 112 points, or 0.48%, trading at 23,199 around 12:10 am. Why is the stock market falling today? 1) Decline in IT stocks The market's decline was largely driven by a fall in IT stocks, with the Nifty IT index dropping by 2.5%. Infosys led the downturn, falling 6%. Although it beat quarterly revenue estimates, Morgan Stanley noted that the higher component of third-party items in its deal pipeline "raises concerns over the quality of results." Infosys alone contributed 366 points to the overall decline in the Sensex, with other IT stocks, including TCS, LTIMindtree, and Persistent Systems, also experiencing losses of up to 3%. 2) Banking stocks plunge Banking stocks, ...

[hfe_template id='11223'] [ad_1] Indian headline equity indices Sensex and Nifty50 opened marginally higher on Thursday, tracking other global peers, after in-line US inflation data reinforced expectations of a Federal Reserve rate cut next week. The BSE Sensex was trading 116 points, or 0.14%, higher at 81,642. The Nifty50 was up 13 points, or 0.07%, trading at 24,659 around 9:27 am. Other Asian markets also ticked higher, with the MSCI Asia ex-Japan index gaining 0.4%. Meanwhile, most Wall Street equities closed higher overnight after data showed the U.S. consumer price index (CPI) rose 0.3% on a monthly basis and 2.7% on a yearly basis in November. The odds of a 25-basis-point Fed rate cut rose to about 99%, up from 89% a day ago, according to CME FedWatch. The Nifty IT index rose 0.83%, led by 1-2% gains in Tech Mahindra, Persistent Systems, Coforge, and Mphasis. Other major indices, including Nifty Bank and Nifty Financial Services, also opened higher. In contrast,...

[hfe_template id='11223'] [ad_1] ET Intelligence Group: The stock of Persistent Systems, a mid-tier IT services company, has gained 10% since its second-quarter result announcement last Tuesday, taking the three-month return to 20%. The stock has remained buoyant following the company's strong business momentum in the September quarter, even as the broader market has shown weakness. The key business vertical of hi-tech and emerging industries, where the revenue growth has been sluggish over the past few quarters, is likely to show a turnaround given the new deal wins. The company's management also expects to improve the operating margin in the second half of the fiscal year with rising utilisation levels. The company reported above 5% sequential revenue growth for the second consecutive quarter. Revenue grew by 5.3% to $345.5 million, driven by the banking, financial services and insurance (BFSI), and healthcare verticals, contributing 59% to the top line. Each o...

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[hfe_template id='11223'] [ad_1] Domestic equity indices Sensex and Nifty opened flat on Friday, reflecting a pause in the global equities rally ahead of the Federal Reserve Chair Jerome Powell's address later today, as markets await confirmation of U.S. rate cuts starting in September. The BSE Sensex was trading 42 points, or 0.05%, lower at 81,009. The Nifty50 was down 7 points, or 0.03%, trading at 24,803 around 9:19 am. Wall Street shares closed lower overnight, as sentiment turned cautious ahead of Fed Chair Jerome Powell's speech in Jackson Hole after Indian market hours on Friday. Among Sensex stocks, Tata Motors, Reliance Industries, Sun Pharma, HUL, M&M, and Power Grid opened higher, while Infosys, Tech Mahindra, Titan, NTPC, and Tata Steel opened lower. Sector-wise, Nifty IT dropped 0.75%, weighed down by Mphasis, Persistent Systems, and LTIMindtree. Nifty Banks, Financials, FMCG, Media, Metal, Realty, and Consumer Durables also opened lower, while ...