Nifty IT hits new historic levels, index tops 745 pts; TCS, Mindtree, Mphasis, HCL Tech, LTI, Tech Mahindra clock fresh highs

All the stocks listed on Nifty IT were in a bull run. Nifty IT has earmarked new record levels and rose by more than 766 points.

Sep 15, 2021 01:09 IST India Infoline News Service

Bull Market
IT company stocks were on a bullish note on Wednesday with heavyweights driving the sector. Nifty IT has earmarked new record levels and rose by more than 766 points. Index heavyweight TCS was the major driver of the index's performance, while substantial gains were added by Mindtree, Mphasis, LTI and HCL Tech.

Stocks that have hit a new 52-week high today are - TCS (Rs3,980 per piece), Mindtree (Rs4,160 per piece), Mphasis (Rs3,185.95 per piece), HCL Tech (Rs1,282.80 per piece), L&T Infotech (Rs5,708 per piece), Coforge (Rs5,407.85 per piece) and Tech Mahindra (Rs1,480 per piece).

All the stocks listed on Nifty IT were in a bull run.

At around 1.15 pm, the Nifty IT traded at 36,178.25 up by 746.75 points or 2.11%. The index has touched a new 52-week high of 36,197.90.

Mindtree was the top gainer soaring 5.5% followed by Mphasis and HCL Tech surging 3.9% and 3.5% respectively.

LTI, TCS, Coforge, Tech Mahindra and Infosys climbed nearly 2% each.

TCS stock was in focus after reports stated that Tata Sons is planning to revamp its leadership structure and is looking to appoint a chief executive officer. It is being known that Ratan Tata's approval is key to implement the new change in the management.

Oracle Financial Services and Wipro zoomed 1% and 0.5% respectively.

IT sector has come into focus ahead of the financial earnings for the quarter ending September 30, 2021 (Q2FY22). Infosys has already announced that the company will present its Q2 results on October 13, 2021. 

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