Due to the foreseeing global recession, inflation, supply chain issues, global macro environment, etc as the effect of the Ukraine crisis, the Indian stock market faced a steep fall at the beginning of this year and pushed almost 97% of IT shares on Indian bourses (stock market of the non-English speaking country) into the red. Even major companies like Tata Consultancy Services (TCS), Infosys, HCL, etc took the plunge during this period. There is not yet any statement from professionals about when this period will end, but experts hold a mixed view about trimming down tech spending over these Macro concerns.
Worst stock selloff-
2022 is only half over, and even more twists and turns are predicted in stocks. This year is the worst half, ever since 1970. After the massive hit in March for Indian stocks, it erased the losses in April with a rebound, but the bounce wouldn’t last long if the risk of recession is high.