Nifty IT tops 500 points; Heavyweight TCS, Infosys drive the performance

IT stocks were the top performers on Monday's trading session with huge buying witnessed in heavyweight stocks like TCS, Wipro and Infosys. Other stocks like Tech Mahindra, HCL Tech and Mindtree also contributed to the gains.

At around 1.38 pm, Nifty IT was trading at 21,915.95 up 506.70 points or 2.37%. The index has surged to an intraday high of 21,929.20.

On the index, L&T Infotech took lead trading at Rs3,234.75 per piece up nearly 5%, followed by Tech Mahindra and Infosys surging by near 3% each.

Mindtree, TCS, HCL Tech and Wipro surged by near 2% each.

However, Mphasis was the sole underperformer on the index, down by nearly 1%.

IT stocks kept overall benchmarks on a positive note as well. Sensex was performing over 291 points at 44,174. While Nifty was near 12,950-level.