BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Over the past one year, the trajectory of NSE IT and Nasdaq has been similar. Both indices are down 32% from peak (NSE IT peak: 39,371 on January 04, 2022 and Nasdaq peak of 16,568 on December 27, 2021).
While NSE IT has outperformed Nasdaq in a few phases over the last one year, over time NSE IT's performance converged with Nasdaq.
We also note that the outperformance of NSE IT has typically peaked just before the result season (barring Q4 FY22 when the outperformance peaked a couple of weeks before the start of the result season) and then reversed during results.
In September 2022, NSE IT declined by ~4% compared to ~8.5% fall in Nasdaq.
Going by the result seasons of the past few quarters, the outperformance of NSE IT could reverse during the reporting of Q2 FY23 results, in our view.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.