Market to remain range-bound; IT stocks to remain under pressure
IT stocks continue to remains under pressure on back of talks of re-introduction of immigration bill which proposes to increase wages from USD 65,000 to USD 100,000. Indian equities have moved up by 2.6 percent led by a series of events starting a likely re-introduction of the Immigration Bill, better than expected earnings of and housing finance companies, likely cut in steel output by China, mixed earnings by 2 large
IT companies and better than expected CPI and IIP numbers. IT stocks continue to remains under pressure on back of talks of re-introduction of Immigration Bill which proposes to increase wages from USD 65,000 to USD 100,000. While management of all top IT companies have ruled out the negative impact due to shortage of skilled workers in the US, we believe stocks are likely to remain under pressure until reported strong earnings and business momentum remains intact.
Read more for HNI Stock Tips-http://www.aceinvestmentadvisory.com
IT stocks continue to remains under pressure on back of talks of re-introduction of immigration bill which proposes to increase wages from USD 65,000 to USD 100,000. Indian equities have moved up by 2.6 percent led by a series of events starting a likely re-introduction of the Immigration Bill, better than expected earnings of and housing finance companies, likely cut in steel output by China, mixed earnings by 2 large
IT companies and better than expected CPI and IIP numbers. IT stocks continue to remains under pressure on back of talks of re-introduction of Immigration Bill which proposes to increase wages from USD 65,000 to USD 100,000. While management of all top IT companies have ruled out the negative impact due to shortage of skilled workers in the US, we believe stocks are likely to remain under pressure until reported strong earnings and business momentum remains intact.
Read more for HNI Stock Tips-http://www.aceinvestmentadvisory.com
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