Nifty IT stocks regain winning momentum; Index surges 2% with all the companies making substantial gains

Mphasis led the rally by surging 4.25% while Coforge, MindTree also gained over 3%. TCS, Wipro and Infosys were also bullish.

Oct 07, 2021 11:10 IST India Infoline News Service

After a brief lull on Wednesday, Nifty IT stocks regained winning momentum amid upbeat markets. The Index surged 2% amid upbeat markets on Thursday. Mphasis, Coforge, MindTree, and HCL Tech left behind the pressure on Wednesday to emerge as the top gainers. L&T Technology Services, Tech Mahindra, and Larsen & Turbo Infotech were also in the fast lane. TCS, Wipro, and Infosys also gained around 1.5%.

Indices led by bullish auto, IT, consumer durables, and realty stocks build on early gains after a bullish start amid positive global cues. Sensex jumps 600 points, Nifty over 17,800.

At around 11.50 am, BSE Sensex was trading at 59,798.55 up 608.82 points or 1.03% and Nifty50 at 17,820.30 up 174.30 points or 0.99%. Nifty IT was trading at 35,793.30 up 717.50 points or 2.05%, touching a high of 35,848.95 and low of 35,233.30 during intraday trade on Thursday.

Moody's Investors Service has upgraded the outlook of nine major non-financial companies in India to 'Stable' from 'Negative'. Moody's has affirmed the long-term issuer ratings. These included IT heavyweights Tata Consultancy Services Limited (TCS), Infosys Limited (Infosys). TCS was trading 1.75% higher at Rs3,877.15 per piece while Infosys was at the bottom of table of listed IT companies at the NSE, still upbeat 1.38% higher at Rs1,696.70 per piece. Wipro was sandwitched between TCS and Infosys in terms of gains at Rs644.95 per piece, up 1.45%.

Mphasis led the rally by surging 4.25% at Rs3,243.95 per piece on Thursday. Coforge and Mindtree also reversed yeaterday losses to gain over 3% today. HCL Tech (up 2.79%), LTTS (up 2.73%) , LTI (up 2.22%) and Tech Mahindra (up 2.15%) were also in the fast lane. 

Related Story

Open Free Demat Account (Rs699)
Open ZERO Brokerage Demat Account

  • 0

    Delivery Brokerage for Lifetime

  • 20

    Per order for Intraday, F&O, Currency & Commodity