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Buoyed by Q1 show, Indian IT shrugs off IBM shock
Indian technology stocks demonstrated resilience on Wednesday, defying IBM's significant overnight decline. Depressed valuations and positive first-quarter results provided support for local outsourcing firms. The Nifty IT index saw a minor dip, while the broader Nifty 50 index edged higher. Analysts noted that IBM's issues were not directly correlated with Indian IT services. Investor concerns have eased due to better-than-expected sector performance and constructive management commentary.
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thehindubusinessline.com
Markets stage comeback amid global sell-off, IT earnings boost
Indian markets rebound slightly amid a global sell-off, driven by strong IT earnings, showcasing resilience against economic pressures.
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economictimes.indiatimes.com
Infosys, Wipro ADRs crash up to 7% as IBM warning sends ripples across IT sector
Infosys and Wipro ADRs fell after IBM forecast weaker-than-expected quarterly revenue, signalling enterprise spending is shifting from software to AI infrastructure. The warning…
