Nifty IT index snaps 4-day slide with 4.6% gain
Business
The Nifty IT index just snapped a four-day losing streak, rising 4.6% on July 2 after dropping to its lowest level in more than five years.
Even with this rebound, the index is still down over 33% from its February peak, as worries about US interest rates, slower tech spending, and AI risks continue to weigh it down.
Guggenheim Securities upgrades 3 software stocks
Guggenheim Securities isn't buying into the hype that AI will wipe out software companies. Analyst John DiFucci called those fears overblown and said the market's been too dramatic.
Guggenheim actually upgraded Salesforce, ServiceNow, and Check Point Software to "buy," seeing big growth ahead.
ServiceNow rose 4.6%, Salesforce 4.9%, and Check Point 2.7% in a day after taking some big hits earlier this year.