Indian IT stocks, including TCS and Infosys, faced a $56 billion market hit amid global AI-related concerns. The sell-off tested the sector’s resilience as investors reacted to fears of automation-driven disruptions and changing technology dynamics. Despite short-term volatility, analysts say strong fundamentals and long-term growth prospects could help these companies navigate the turbulence and recover over time.
The dollar held its ground as markets awaited Federal Reserve signals on potential rate cut timing. The yen trimmed losses after weak Japanese data, while the Aussie dollar dipped following RBA minutes. Key economic events this week include Fed minutes and U.S. GDP figures.
Major tech stocks like Microsoft, Amazon, and Nvidia have experienced significant market value declines this year. Investors are now prioritizing near-term earnings over long-term AI ambitions, shifting market psychology. Conversely, companies such as TSMC, Samsung Electronics, and Walmart have seen their market values increase.
Indian tech stocks, including TCS and Infosys, have seen a significant market value drop due to AI fears. However, analysts and investors believe this selloff presents a buying opportunity. They argue that Indian IT firms are well-positioned to adapt, reskill, and capitalize on the growing demand for AI integration services, citing their history of technological resilience and strong financial positions.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources.
As long as the stock is priced above the 200-day SMA on the daily timeframe, it is generally considered to be in an overall uptrend.
Gold prices dipped 1% on Tuesday amid thin trading due to Lunar New Year holidays in Asian markets and a stronger U.S. dollar. U.S. gold futures also saw a decline. Meanwhile, silver, platinum, and palladium prices also experienced losses.
Oil prices remained steady as Iran conducted naval drills near the Strait of Hormuz ahead of nuclear talks with the U.S. Investors are assessing supply disruption risks amid geopolitical uncertainties. Citi predicts a potential price decline to $60-62/bbl Brent by summer if Iran and Russia-Ukraine deals materialize.
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