Shares of information technology (IT) companies were in focus in an otherwise subdued market on Wednesday with eight stocks from the S&P BSE IT index – Wipro, Birlasoft, Coforge, Firstsource Solutions, Mindtree, Persistent Systems and Sonata Software – hitting their respective record highs on the BSE in the intra-day trade today. Tata Consultancy Services (TCS), Tech Mahindra, Infosys, HCL Technologies and Larsen & Tourbo Infotech from the BSE IT and Nifty IT indices were up in the range of 1 per cent to 3 per cent.
At 10:13 am, the S&P BSE IT Index (up 1.2 per cent) and Nifty IT index (up 1.5 per cent) outperformed the market as compared to a marginal 0.02 per cent and 0.09 per cent gain in the S&P BSE Sensex and Nifty50 index, respectively.
Read more about IT shares in focus; KPIT, L&T Technology, Mindtree hit record highs on Business Standard. The $1.9 trillion Covid relief bill stimulus, if passed, will boost the US economy and will, in turn, positively impact the IT industry, ICICI Securities said in a note