TCS, Wipro, other IT stocks rebound up to 6%, snapping 8-day losing streak. Why is Jefferies cautious ?

IT stocks rebounded on Wednesday, with TCS, Wipro and Coforge snapping an eight-session losing streak. The Nifty IT index rose nearly 3%, aided by a stronger US dollar and higher US bond yields, though brokerages remain cautious ahead of the Q2 earnings season.