Nifty IT hits new lifetime high, index crosses over 39,200-mark ahead of major Q3 earnings; L-;T twins, TCS top bulls

3 Jan 2022 , 03:01 PM

IT company stocks were in focus on Monday as investors prepared to embrace the third-quarter earnings of FY22 which is set to begin with major tech companies from next week. The Nifty IT index hit a new historic high and even clocked more than 39,200-level. Heavyweight stocks were top picks.

At around 2.52 pm, Nifty IT was trading at 39,120.90 up by 419.90 points or 1.08%. The index has hit a new 52-week high of 39,286.35 earlier today.

L&T twins namely L&T Technology Services and L&T Infotech took lead with gains of over 2.5% and 2.4%.

Index heavyweight TCS followed with over 2.1% upside. Coforge and Mindtree rallied over 1% each.

Mphasis and Infosys advanced 0.8% and 0.7%. HCL Tech and Wipro were marginally up.

On the contrary, Tech Mahindra was the only laggard but with a marginal downside.

As per stock exchange data, TCS and peers Wipro and Infosys will announce their Q3 results on January 12. While HCL Tech will announce its Q3 earnings on January 14.

The IT companies will remain in focus following their financial performance for October – December 2021 quarter.