Nifty IT resists fragile markets; LTI, Infosys, Wipro lead sectorial gains

Oracle and Coforge shed around 2% each while Tech Mahindra was also marginally lower.

Jun 14, 2021 12:06 IST India Infoline News Service

Nifty IT stocks resisted the markets bears by trading higher on Monday. The IT index after a bullish start on Monday stayed firm despite fragile markets. Heavyweights Larsen & Turbo Infotech, Infosys and Wipro led the gains to help the sector outperform despite Oracle Financial Services Software and Coforge weighing down.

At around 12.55 PM, the Nifty IT was trading at 28,303.80 up 86.30 points or 0.31%, touching a high of 28,467.35 and low of 28,134.65 during intraday trade on Monday. 

LTI surged over 0.8% at Rs4,207.80 per piece to lift the mood. It hit a day's high of Rs4,229.00 per piece early on. Infosys (up 0.6%) and Wipro (up 0.52%) also gained at Rs1,455.65 per piece and Rs557.20 per piece respectively to boost the sector.

Mphasis widened its gains by trading 0.56% at Rs2,021.10 per piece. Mindtree, and TCS also traded higher while HCL Tech was 0.2% higher despite trimming early gains.

However, Oracle shed over 2% at Rs3,614.00 per piece to emerge the biggest laggard while Coforge dropped down 1.9% at Rs3,903.05 per piece. Tech Mahindra was also marginally lower.

Meanwhile, the S&P BSE Sensex dipped 227 points and the broader Nifty50 hovered below the 15,750-mark, down 81 points. 

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