IT Stocks Fall As Rupee Continues To Strengthen

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Shares in software stocks saw profit booking and dropped despite a rise in the benchmark indices. Shares in Infosys was down more then 1.5 per cent on the BSE, while HCL Tech, Tech Mahindra and TCS were the other stocks that fell in trade.

    IT Stocks Fall As Rupee Continues To Strengthen
    INR
    70.292 US Dollar
    The rupee has been gaining ground since the start of the week and is currently trading at 65.25 against the dollar, after dipping as much as 66 in Sept.
     

    Check rupee rates here

    This saw some profit booking in IT shares, which tend to gain on the back of a falling rupee. Dealers say there has been renewed strength in the rupee on the back after US jobs data came in weaker then expected.

    This has raised hopes that there would be a delay in hiking interest rates in the US, helping the rupee against against the dollar.

    GoodReturns.in

    Read more about: infosys hcl tech tech mahindra
    Story first published: Tuesday, October 6, 2015, 11:33 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more