Traditionally, the October-December quarter is a weak quarter for IT companies as the number of working days is lesser compared to other quarters due to the holiday season at the client locations.
Though the markets have lost ground since the past few sessions, analysts do not seem worried.
According to fund managers, expectations of a 25-basis-point increase in the cash reserve ratio of banks have heightened in the wake of RBI's surprise twin moves to make short-term money dearer as part of its attempts to curb the rupee's volatility.
The fall in metal and mining stocks comes on the back of weak Chinese trade data
Without factoring in the rupee-dollar exchange rate, the index has been touching new all-time highs repeatedly.
'The good news is that money continues to flow into India-focussed offshore funds.'
Despite high exposure of public sector banks to power, iron and steel sectors, analysts remain in a wait-and-watch mode.
According to technical analysts, the Nifty could trade in the range between 7,400 and 7,700.
Secondary market might be a better bet for investors
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