IT sector may outperform market: Varun Goel

IT sector may be a market performer from these levels, says Varun Goel, Head - PMS, Karvy Private Wealth.

Goel told CNBC-TV18, "The play left in the IT space is only the rupee-dollar one. I don’t think from a fundamental perspective there is really much to talk in terms of upside. There is going to be significant amount of pressure and challenges as far as the European operations of most of these companies are concerned and we are beginning to see fresh stress as far as the American BFSI (Banking, Financial Services and Insurance) segment is concerned and together these two categories account for more than 50% of the revenues of most of these companies. So I think it’s time to get a little cautious. IT sector at best can be a market performer from these levels."