Nifty IT Index up over 1% on weak rupee

India Infoline News Service | Mumbai | October 06, 2017 13:29 IST

The Nifty IT Index gained as the rupee weakened against the dollar. A weak rupee boosts the revenue of IT firms in rupee terms as the sector derives a lion's share of revenue from exports.

HCL Technologies
IT stocks gained as the rupee weakened against the dollar. A weak rupee boosts the revenue of IT firms in rupee terms as the sector derives a lion's share of revenue from exports. The Nifty IT Index is up over 1%.

HCL Technologies Ltd is currently trading at Rs 905.6, up by Rs 14.25 or 1.6% from its previous closing of Rs 891.35 on the BSE. The scrip opened at Rs 887 and has touched a high and low of Rs 906.5 and Rs 887 respectively. The stock is currently trading above its 50 DMA.

Infosys Ltd is currently trading at Rs 917.7, up by Rs 14.6 or 1.62% from its previous closing of Rs 903.1 on the BSE. The scrip opened at Rs 906.6 and has touched a high and low of Rs 920 and Rs 903.05 respectively. The stock is currently trading below its 200 DMA.

Wipro Ltd is currently trading at Rs 286.15, up by Rs 2.45 or 0.86% from its previous closing of Rs 283.7 on the BSE. The scrip opened at Rs 285 and has touched a high and low of Rs 286.65 and Rs 283.85 respectively. The stock is currently trading below its 50 DMA.

Meanwhile, in the broader market, the BSE benchmark Sensex is trading lower at 31,776, up 181 points.

***Note: This is a NSE Chart

 

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