After a 17.4% correction in the Nifty IT index this year so far, most IT stocks are trading well below the average valuation in the last five years.
The Nifty IT index has declined 10% in the last two months. While much of the street remains cautious on the prospects for IT stocks, some bargain hunting is already underway. The index is up 4% since August 8, when we highlighted the signs of the slowly turning sentiment among some analysts.
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