IT shares rise on Fed rate cut hopes and US shutdown resolution
after close1 source ↓written by the desknot a recommendation
- by the Federal
- 25 basis point rate cut
IT shares gained for the third consecutive day, driven by optimism surrounding a potential India-US trade deal and expectations of an end to the US government shutdown. Tech Mahindra and TCS rose by up to 3% as traders anticipate a 25 basis point rate cut by the Federal Reserve next month, following weak US payroll data.
The bullish sentiment in IT stocks is significant as these companies derive a large portion of their revenue from the US market. The expected resolution of the federal shutdown and further rate easing could enhance investor confidence in the sector.
Not investment advice. For informational purposes only.