IT stocks lag amid profit-taking even as markets strike four-week winning streak

India’s benchmark indices paused on 24 October after a six-day rally, with the Nifty IT sub-index under-performing as IT stocks saw profit-taking despite robust earnings season. While the broader Nifty 50 rose for a fourth consecutive week, the tech segment dragged amid concerns around margin pressure and elevated valuations. Analysts say the narrowing of participation to commodity and cyclical sectors highlights rotation. Investors are now focused on key global cues—especially U.S. inflation data—and India’s export momentum for the next leg of stock-market gains.