IT stocks continue to remains under pressure on back of talks of re-introduction of immigration bill which proposes to increase wages from USD 65,000 to USD 100,000.
IT major Wipro today followed in the footsteps of peer TCS, and said it expects the recent deluge in Chennai to have a material impact on its third-quarter earnings.
Vineet Bhatnagar of PhillipCapital says investors should use the current market weakness to buy stocks.