Nifty IT holds steady tracking global tech rally; Mphasis, Wipro, Tech Mahindra gains

Big tech stocks like Apple, Facebook, Amazon and Alphabet rallied ahead of their earnings report.

Oct 30, 2020 02:10 IST India Infoline News Service

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Although the benchmark indices witnessed huge sell-offs, IT stocks, on the other hand, managed to remain steady on Friday tracking global tech stocks rally overnight.

At around 2.40 PM, Nifty IT was trading at 20,921.25 above 44.30 points or 0.21%. The index has touched the day's high of 21,197.30.

On the index, Mphasis led the gainer's list trading at Rs1,371.90 per piece up 3.26%, followed by Tech Mahindra (+1.37%), Wipro (+1.11%) and TCS (+1%).

Stocks like HCL Tech and Mindtree also surged marginally.

However, Infosys saw under pressure trading at Rs1,062.20 per piece down 1.18%, while L&T Infotech slumped gradually.

On Thursday, big tech stocks like Apple, Facebook, Amazon and Alphabet rallied ahead of their earnings report. These stocks kept Wall Street on a steady territory despite the risk arising from Coronavirus pandemic. 

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