Nifty IT index maintains upside trend, advances over 250 pts; Infosys, TCS, Tech Mahindra, Mphasis drive the performance

10 Feb 2022 , 10:45 AM

Nifty IT index denied markets volatility on Friday as heavyweight Infosys, TCS and Tech Mahindra log buying sentiments. Corporate earnings season continues to influence markets outlook however, investors keep an eye on RBI policy announcements to bet accordingly.

Today, at the meeteing, Reserve Bank of India’s (RBI) monetary policy committee has kept repo rate unchanged at 4 per cent and reverse repo rate unchanged at 3.35 per cent with accommodative stance.

On a global front, US stock markets closed in green as mega cap growth stocks powered up after a pause in rising interest rates, and upbeat earnings reports.

Back at home, at around 10:45 AM, Nifty IT was trading at 35,240 higher by 256.70 points or 0.73 points. The index has touched an intraday high of 35,272.

On the index, 9 scrips advanced and only 1 scrip declined.

L&T Tech Services was the top bull surging by nearly 1.4%, while Infosys gained by 1.3%. Mphasis advanced by 1%, while Tech Mahindra, TCS, HCL Tech and Mindtree were marginally up.

Index majors Wipro and L&T Infotech traded flat but in the green while heavyweight Coforge was the only loser tumbling by marginal losses.