New Delhi, July 25 -- Mixed Q1 results, cautious management commentaries, and persisting global uncertainties continue to haze the outlook for the Indian IT sector. The Q1 numbers were expected to be soft, but they seem to have come in even below expectations, disappointing the market. Consequently, the Nifty IT index has been in the red for three consecutive weeks on a weekly basis.

The Q1 numbers of Infosys were better, but TCS, Wipro and HCL Tech disappointed the Street.

TCS and Wipro reported a decline in revenue in constant currency (CC) year over year (YoY), but Infosys and HCL Tech fared better.

TCS's CC revenue declined 3.1 per cent, while that of Wipro fell 2.3 per cent YoY. Infosys' CC revenue rose by 3.8 per cent, while HCL ...