Valuations in the largecap IT space remain expensive against their pre-COVID levels and the big names are still a few quarters away from turning a corner, says Hemang Kapasi.
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The S&P BSE Sensex rose 560 points while the Nifty50 closed above 22,300 levels. Sectorally, buying was seen in capital goods, consumer durables, public sector, and healthcare stocks while selling was seen in utilities.