Nifty IT surges 2% to drive markets bull run; Wipro, HCL Tech, Tech Mahindra among top gainers

3 Mar 2022 , 12:05 PM

The Nifty IT rose 2% to lead the bullish trade on Thursday as Wipro,  HCL Tech and Tech Mahindra were among the top performers to push the sector and overall markets in the drivers seat. Sensex and Nifty, on Thursday started trade in the green tracking positive global cues amid the ongoing Russia-Ukraine war.   

Nifty IT was trading at 34,395.95 up 675.95 points or 2.00%, touching a high of 34,410.70 and low of 33,887.55 during intraday trade on Thursday.

Asian shares rose after reassuring comments from the Federal Reserve helped Wall Street rally, though the war in Ukraine sent oil and resource prices soaring ever higher in a grim omen for global inflation. Crude oil rates extended their surge, with Brent rising above $116 a barrel.

At around 12.05 pm, BSE Sensex was trading at 55,644.91 up 176.01 points or 0.32% Nifty50 at 16,647.55 up 41.60 points or 0.25%.

Wipro led the charts by rising 3.56% at Rs574.95 per piece on the NSE on Thursday. The Bengaluru-based IT services firm has introduced a cloud car platform for software-defined vehicles.

HCL Tech was 3.13% higher at Rs1,150.45 per piece. IT company HCL Technologies on Wednesday announced the opening of a centre of excellence in collaboration with IBM to jointly offer network modernisation technology to telecom companies.

Tech Mahindra Ltd was 2.9% higher at Rs1,434.50 per piece. The compoany has recently entered metaverse with the TechMVerse launch, to offer interactive and immersive experiences to customers.

Coforge was also in the fast lane by edging 3.4% higher. L&T Technology Services surged 3% while L&T Infotech was up 2.3% to outperform. Mphasis (up 2.58%), MindTree (up 2.59%) and Infosys (up 1.65%) were also in the fast lane. TCS was at the bottom of NSE IT Index with 0.9% gains