Friday, 24 March, 2023

IT stocks likely to remain under pressure in near future: Morgan Stanley

<p>The risk-reward ratio in the IT sector is now negative, according to Morgan Stanley, due to persistent headwinds and an ongoing cycle of earnings downgrades. Following a 52-week low session, the BSE&#39;s IT index finished the day down 0.2% at 27,122.90. IT index has decreased by 30%. The last two quarters have seen a decrease in IT consensus earnings, but Morgan Stanley said there is still room for more downgrades.</p>