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IT stocks rally; TCS hits lifetime high
IT counters surged today with Infosys and Wipro also in the limelight following buying support. Infosys gained 1.55%, while Wipro gained 2.71% on the National Stock Exchange.
Buying in software companies can be attributed to renewed hopes of quantitative easing in the US, which could see better spends among clients. Ironically, IT shares gained today despite a sharp drop in the rupee.
The IT index rose more than 1%.
GoodReturns.in
Story first published: Thursday, August 23, 2012, 12:56 [IST]
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