IT stocks have bounced back smartly on the back of renewed buying interest at lower levels as Re continues to weaken versus the US dollar.
IT stocks have bounced back smartly on the back of renewed buying interest at lower levels as Re continues to weaken versus the US dollar.
The Indian Rupee today touched a low of 63.875 per US dollar in early deals. The Indian currency has depreciated by nearly 3 percent in the last one month.
The CNX IT index has soared nearly 2 percent to 11,140.
Index heavyweights - TCS and Infosys have rallied over 2 percent each to Rs. 2,519 and Rs. 1,963, respectively.
Mindtree and HCL Technologies also have surged over 2 percent each to Rs. 1,293 and Rs. 910, respectively.
Hexaware and Oracle Financial Services Software (OFSS) have gained around 1.5 percent each at Rs. 263 and Rs. 3,399, respectively.
MphasiS, Wipro, Naukri and eClerx are the other prominent gainers.
On the flip side, Persistent Systems, Polaris and Rolta are some of the major losers in the IT space.
Thanks to the strong gains in IT shares, the NSE Nifty too has managed to recoup most of its losses and is now down mere 12 points at 8,085.
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