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“IT companies that need to worry are perhaps some of the smaller companies which may face demand contraction to some extent. There will be more consolidation in terms of the number of vendors. So the front line companies in particular, like Infosys or maybe even HCL Tech, should be able to expand their client base as compared to some of the smaller size companies.”

Tracking weak global sentiments, Indian equity indices continued their losing streak for the 8th consecutive session on Tuesday. Nifty ended at 17,303, down 89 points or 0.51%, while Sensex fell 326 points or 0.55% to end at 58,962.

Volume profile indicates Nifty has strong support around the 17150-17200 zone. Coming to the OI data, on the call side, the highest OI was observed at 17400 followed by 17500 strike prices, while on the put side, the highest OI was at 17000 strike price

Dividend yield has been calculated on trailing 12 months’ numbers

BSE Sensex declined for the third consecutive month in February, with a fall of 0.56%. Some sectoral indices also declined in the month. Here are 7 sectors that lost the most in February, according to ACE Equity data.

Market capitalisation of all listed companies on BSE declined by Rs 12.44 lakh crore to Rs 257.95 lakh crore in February

The Nifty Auto index closed 0.45 per cent up at 12731.8.

In its February 2023 review, MSCI announced a couple of inclusion and exclusion, with changes in the weights of a few Indian stocks, including Adani Enterprises, Bank of Baroda, and CG Power, among others, which will influence flows in these stocks.

“There is a lack of leadership from any sector and lack of any particular trigger to drive this growth. In fact, there is only negative news flow which is coming. Things which were forgotten for the last 10-12 years like a higher cost of capital, is coming back to realisation and that is where most of the companies will have to adjust their business models.”

In the overseas market, both gold and silver were quoting lower at USD 1,808 per ounce and USD 20.47 per ounce, respectively.