IT stocks in focus ahead of Nasscom's annual sector growth forecast

Information Technology (IT) sector will be in focus on Wednesday ahead of the Nasscom's annual strategic review later today, where the IT sector lobby group will share its guidance for FY20.

Last time around, they had guided for FY19 growth to come in at 7-9 percent and the expectations are running high for the growth of 8-8.5 percent this fiscal year. If it comes in within the range, it would be positive but if it comes in at the lower end of the guidance, it could be slightly negative for the home-grown IT players.

For FY20, the guidance is expected to be similar to FY19, so anything lower than 7 percent, in fact 8-9 percent is widely what industry sources are indicating.