A ‘once-in-5-years’ signal just flashed on the TCS chart. Is a turnaround near?
After a bruising July for Indian equity markets, all eyes are now on August, with hopes pinned on the technology sector to bring back some cheer. The Nifty IT index dragged the Nifty50 in July registering a fall of 9.70%.
The giants of the IT index, like HCL Tech (-15.08%), Persistent (-14.58%), and TCS (-12.28%), led the downward spiral. In fact, MPHASIS was the lone bright spot, with a gain of 0.06%.
