Nifty IT Outperforms; Infosys, Tech Mahindra Hit New High For 2nd Day, HCL Jumps

While indices have pared their losses and Nifty is once again holding on to 17,000 level, broader markets and Bank Nifty continue to underperform.

Among the Nifty sectoral indices, while all of the indices trade in the red, it is the IT pack i.e resilient with gains of over 1 percent towards the close of the session. Two of the Nifty IT constituents have hit record high levels for the second straight day, including Tech Mahindra and Infosys. Also, HCL has been the star performing gaining 5 percent in intra-day trade on December 24, 2021.

Nifty IT Outperforms; Infosys, Tech Mahindra Hit New High For 2nd Day, HCL Jumps

HCL shares have been seeing the upward run on reports that the company's promoters will purchase 45 lakh shares in the firm in the open market.

The reverse booking for block purchase was launched at up to a 5 per cent premium to the closing price, a leading busines channel reported on Thursday. Additionally Citi is said to be the broker to the deal.

Previously in December only, HCL and Germany's primary bank Deutsche inked an agreement with Atruvia for acquiring IT consulting company.

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