Momentum in IT stocks
The surged in the indices came on the back of rally in IT stocks, with HCLTech and Tech Mahindra holding the top spot in the Nifty50. The Nifty IT index surged more than 2 per cent in today’s trade to a high of 31,038.15. Tata Consultancy Services, Infosys, LTIMindtree, and others followed HCLTech and Tech Mahindra in the Nifty IT index. Nifty IT continued to extend gains, for the third continuous session, rising more than 8.5 per cent. The share price of HCLTech rose 3.68 per cent to the day’s high of Rs 1,375.90 on the NSE.