Sound Performance

and fears of a downturn resulted in heightened volatility in the IT/ITeS space. But unlike other industry segments such as FMCG or automobile, market leaders in this sector managed to do well, with leading stocks witnessing a 16.6 per cent jump in average market cap, while the aggregate market cap of BT 500 companies fell 1.5 per cent. The numbers are not as strong as expected from the once red-hot industry but analysts call it a temporary blip. In its ‘Outlook for the Global IT Market’, Gartner predicts 3.7 per cent growth in 2020, primarily due to enterprise software spending. “The slowdown in IT spending in 2019 is not expected to stretch as far into 2020 despite concerns over recession and companies cutting back on discretionary IT spending,” says