Tech stocks rebound; 3 reasons why Accenture guidance less grim than feared for Indian IT

Tech stocks stages a comeback after a sharp kneejerk reaction in early trade. The Nifty IT Index is currently trading in the green and key Index stocks like Infosys, TCS, Wipro are off intra-day lows. Though Accenture narrowing down the guidance and stating that clients, especially in the public sector, are reviewing and cutting government-related IT spending in US is a worry for the sector, the impact for Indian tech companies may be limited.