Two factors that may cheer up IT stocks soon

Markets have been presenting an excellent opportunity to invest. Now the question on every investor’s mind is where to invest? In last week’s article, I mentioned about banking sector bottoming out. IT is another sector where the fall seems to be over.

The sector has been in the limelight for various reasons. An uptrend was witnessed with elevated demand due to the pandemic. The stock prices skyrocketed leading to exorbitant valuations. However, the rally slowed down with increasing attrition rates. The Nifty IT index has declined by 22% since April 1, 2022.