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Informist, Friday, Jun. 6, 2025

MUMBAI - Information technology stocks are expected to be volatile in the near term as concerns about US's trade policy and related macroeconomic uncertainty persist despite resumption of talks between US President Donald Trump and his Chinese counterpart Xi Jinping. Domestic IT stocks will remain volatile until clarity emerges on the US tariff-led macroeconomic uncertainties, an analyst covering the sector at a domestic brokerage said.

Market participants will take cues from the US non-farm payrolls data. Data released after Indian market hours Friday showed US non-farm payrolls rose 139,000 in May, against a Dow Jones consensus estimate of 125,000. Analysts expect the impact of US trade policies to be seen in the employment reports for July and August. 

US President Donald Trump had been pressing the Federal Reserve to lower interest rates, suggesting that it was behind in lowering interest rates compared to its peer countries. The Fed had kept interest rates steady in its recent policy meeting, opting to analyse the impact of tariff-related uncertainty on the US economy before deciding on cutting or raising rates.

The Nifty IT index remained largely flat over the week while the benchmark indices rose nearly 1% each. Midcap stocks Coforge and LTIMindtree rose nearly 4% and 3%, respectively, over the week, outperforming their peers. Shares of L&T Technology Services, Tata Consultancy Services, Wipro, and Mphasis fell in the range of 0.4-2.3% over the week while those of Tech Mahindra remained largely flat. Next week, the Nifty IT index is seen facing resistance around 37632.70 points and support is expected at 36742 points.

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Following are the resistance and support levels for the stocks for next week as per calculations by Informist based on their prices on the National Stock Exchange:

End

US$1 = INR 85.62

Reported by Arya S. Biju

Edited by Ashish Shirke

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