From mint · Asit Manohar · · 1m 20s
Top 5 IT Stocks to Buy Today
Experts highlight TCS, Infosys, Mphasis, Coforge, Persistent Systems as top IT stocks to buy after Accenture results.
In brief
Experts highlight TCS, Infosys, Mphasis, Coforge, Persistent Systems as top IT stocks to buy after Accenture results. Market experts predict strong gains for Indian IT stocks following Accenture's better-than-expected results and foreign investor activity. Originally reported by mint.
Quick answers
- Why IT Stocks?
- Mphasis and Persistent Systems have higher probability of moving higher due to strong foreign and domestic investor interest.
- What is the key takeaway from Top 5 IT Stocks to Buy Today?
- Market experts predict strong gains for Indian IT stocks following Accenture's better-than-expected results and foreign investor activity.
Top 5 IT Stocks to Buy Today
Experts believe these five Indian IT stocks will outperform others after Accenture's better-than-expected results.
“Top 5 IT stocks to buy today: Experts believe the Nifty FPI heatmap hints at indian stocks that could deliver big upside after better-than-expected accenture results.”
Accenture Results Impact
Infosys shares rose 6% at the NYSE following Accenture's results announcement on Wednesday.
“Infosys share price finished close to 6%, whereas Wipro shares ended over 6% at the NYSE after Accenture's results were announced on Wednesday.”
IT Companies' US Business
Indian IT companies derive more than 50% of their business from the US, with Accenture playing a major role.
“Indian it companies draw more than 50% of their business from the us. Accenture plays a big role in it.”
Nifty FPI Heatmap
The Nifty FPI 150 heatmap shows 5 IT stocks in the green despite a market crash on Thursday.
“Of the 50 stocks in the Nifty FPI Index, 20 ended in the green despite a heavy sell-off on Thursday. Of those 20 stocks, 5 are in the it segment.”
Expert Recommendation
Anuj Gupta, a SEBI-registered market expert, says these 5 IT stocks will see sharp gains when the market opens.
“As these stocks are in the bull trend ahead of the expected rally, an investor can expect a sharp upside in these 5 it stocks when the market opens.”
Why IT Stocks?
Mphasis and Persistent Systems have higher probability of moving higher due to strong foreign and domestic investor interest.
“Mphasis and Persistent Systems have a higher probability of moving higher, as they are expected to receive favour from both fpis and diis.”
Investor Strategy
Short-term investors should monitor the Nifty FPI heatmap for potential IT stock gains ahead of Monday's market open.
“They suggested that short-term investors take a cue from the Nifty FPI heatmap.”
Market Expectations
Market experts expect similar Q2 results from Indian IT giants after Accenture's better-than-expected results.
“After the better-than-expected Accenture results, the market expects similar q2 results from the indian it giants.”
Here's the gist
Market experts predict strong gains for Indian IT stocks following Accenture's better-than-expected results and foreign investor activity.
