The broader market continues to remain resilient despite persistent weakness in information technology stocks. According to market expert Neeraj Dewan, the sector has been under pressure ever since companies issued cautious commentary after their March quarter earnings, resulting in sustained selling. He believes investor confidence will only return when companies provide stronger business visibility and improve their outlook.
"The companies were not so positive about this year, so that is what is reflecting the kind of selling we have seen there. Something has to come from the companies to get some confidence back into people because the guidance was not so great," he said.
