Nifty IT index takes bull ride amid volatility; Heavyweights TCS, Infosys, LTTS in top gear

11 Jan 2023 , 10:32 AM

On Wednesday trading session, Nifty IT was in the fast lane as corporate earnings season of major technology companies lift the investors sentiments for this sector. The positive trigger for the market now is that IT industries is set to post another quarter of strong growth despite cost pressure.

At around 10:40 AM, Nifty IT was trading at 28,902.35 up by 399.65 points or 1.4%. The index has tumbled to an intraday low of 28,460 and has touched an intraday high of 28,945.80 during early trading hours.

In terms of gains, the index was lifted by Mphasis being the top performer surging over 2.4% at Rs2,036.95 per share. Tech giant LTTS followed with 2% gain, while Coforge zoomed over 1.8% to support the bullish sector.

Tech giant peers TCS and Infosys surged by 1.5% each, while HCL Tech soared around 1.3%.

Persistent Systems was 1.25% on the upside at Rs4,012.50 per share followed by LTIM advancing by 1.1% at Rs4,281.80 per share.

Tech Mahindra and Wipro were trading between 0.5-1% higher to follow the upside trend.

Furthermore, tech giant peers Infosys, HCL Tech are set to announce their Q3 result tomorrow and expected to report healthy quarterly earnings.

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