Moneycontrol
Jan 06, 2017 07:52 PM IST | Source: CNBC-TV18

Steer clear of IT stocks, sell at every rise: Experts

Increasing worries over the impact of US H1B visa changes on Indian IT companies kept stocks in the sector under pressure in today's trade. Dipan Mehta, member of BSE & NSE, says it is a 'sell at every rise' for the IT stocks.

It was a choppy day for the market and it ended below 8,250 level. NBFCs was under pressure and IT stocks took a beating on increasing worries the likely revisions in US H-1B visas would hamper business of Indian IT companies.

On whether investors should continue to trade in IT stocks, Dipan Mehta, who is a member of BSE and NSE, said it is a 'sell at every rise'. He said the dynamics have changed and growth will be scarce.

Concurring with Mehta, Deepak Shenoy of Capitalmind.in said Donald Trump's take on H-1B visas and immigration laws is creating a lot of uncertainties for the IT sector.

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