Shares of Infosys fell nearly one percent on Tuesday as investors cashed in on their recent gains. The scrip has gained over 36 percent in 2021 so far.

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Analysts believe information technology stocks are likely to sustain their premium valuations as the demand scenario for the sector remains robust in the wake of digitisation.

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Overall demand commentary is positive with all companies expecting accelerated growth over the next 3-5 years while deal pipelines remain near all-time highs, Jefferies India said in its report lately.

However, most companies believe supply pressure to persist over the next 2-3 quarters which could make the operational performance of technology companies volatile, Jefferies added. The top picks for the foreign brokerage firm remain Infosys and HCL Technologies.

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The company said it has almost completed its buyback programme and its buyback committee will meet on September 8 to consider the closure of the buyback programme.

Also Read | Is Infosys buyback coming to a close?

At 1018 IST, shares of Infosys were trading one percent lower at Rs 1,712.50 on BSE.