IT Index Hits Fresh High; 4 IT Stocks Hit Fresh High

Amid strong positive cues, Indian indices started the trading day on a positive note.Broader markets outperformed the headline indices, while Nifty Bank also traded in the green.

IT Index Hits Fresh High; 4 IT Stocks Hit Fresh High

Among Nifty sectoral indices, IT pack posted the resilience performance, after good recovery seen in the metal pack. In fact, the IT index scaled to a fresh high of 34,262.6. Among the 10 Nifty IT index constituents, Mindtree, Tech Mahindra, Larsen and Toubro Infotech and Infosys hit fresh 52-week high.

It is being said that particularly large caps are rising which is fuelling a catch up rally in the space. As per analysts, the gains in the pack were long overdue. In the previous week, also on Wednesday, Nifty IT index hit a fresh high.

Besides mid-cap IT counters have seen robust gains and their revenues have come in companies has been higher than tier-I companies.

Now as experts recommend buying on large caps for potential gains in the near term, large cap IT caps also may be a good call.

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