Though information technology (IT) stocks have faced challenges in the recent past, it may not be prudent for investors to dump them completely, experts told Moneycontrol.
They cite reasonable valuations, along with potential for better returns in a volatile market, as some of the reasons to not look away from IT names.
For the uninitiated, shares of information technology companies have taken a hit in the recent past on the back of an appreciating rupee. In fact, the IT indices on Sensex and Nifty have fallen around 6-7 percent since October 11, 2018. The currency on that day fell to a record low of 74.48 per US dollar.
Here is a look at the chart of BSE IT index between October 31, 2018 and November 22, 2018.
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