Nifty IT index slides 14% YTD, sinks to 8-month low. What’s spooking India’s tech stocks?
Indian stock market: The pain in Indian technology stocks is deepening with each passing day as signs of a slowing U.S. economy—where Indian tech giants have significant revenue exposure—are unsettling investor sentiment, leading to a severe sell-off on Dalal Street. Additionally, diminishing expectations of multiple U.S. Fed rate cuts in 2025, coupled with global tech giants' ongoing concerns about growth prospects, are contributing to prolonged weakness in IT stocks. U.S. growth concerns weigh on IT stocks The multiple rate cuts by the U.S. Federal Reserve in 2024 and Donald Trump's victory in the U.S. presidential elections encouraged investors to add IT stocks to their portfolios. The January Federal Reserve meeting minutes showed that policymakers agreed they would need to see inflation decline further before lowering interest rates and expressed concern about the impact of President Donald Trump’s tariffs in achieving that goal.
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Buy or sell: Vaishali Parekh recommends three stocks to buy today — 11 April 2025