Wipro and Tech Jefferies downgrades six IT stocks due to recession concerns.
JP Morgan analysts had downgraded the Indian IT sector earlier in May, citing growth concerns. Rising margin headwinds in the near term, according to JP Morgan, were one of the key concerns at the time.

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Here is what occurred in the market while you were sleeping: the SGX Nifty is down 95 points.
Domestic equity market are expected to start the week poorly due to negative global cues. Asian peers were mostly lower on Monday, while US stocks ended the weekend flat. Inflationary pressures continue to plague global investors. Back home, investors will be looking for stock-specific action based on Q1 results.

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