At around 12.41 PM, the Nifty IT was trading at 29,889.95 up by 110 points or 0.4%. The index has pulled back from its historic high of 30,059.70 that was clocked in the early deals today.
On the index, six stocks have advanced and 4 have declined.
Mphasis was in the top spot of bulls surging by 4.3%. Heavyweights Wipro and HCL Tech climbed by 2.2% and 1.2% respectively. Tech Mahindra also contributed to the upside by advancing 1.1%.
Coforge gained by 0.8%, while index heavyweight TCS surged marginally.
On the downside, slower movements were seen. L&T Infotech was the top underperformer plunging nearly 1% followed by Mindtree diving over 0.9%.
Oracle Financial Services and Infosys tumbled marginally.
On the global front, Chinese tech firms that are listed on the Hong Kong exchange entered into a free.
A Bloomberg News reported that Beijing is looking for harsh penalties on ride-hailing giant Didi. The penalties are reportedly expected to be larger than the record $2.8B paid by Alibaba earlier this year. Didi was pushed to stop signing up new users after its US IPO last month. The Didi app is also removed from Chinese app stores over allegations about the collection and use of personal data.
Meanwhile, overnight, on Wall Street, tech giants such as Microsoft Corp, Amazon.com, Apple Inc, Facebook Inc and Alphabet Inc rallied ahead of their quarterly earnings next week taking Nasdaq at the front and towards 14,700.