Infosys, Wipro, TCS shares up by more than 2%, after US Fed indicates to September rate cut

Indian equity markets have started the day today, 25^th August, in green. At 9:30 a.m. IST, Nifty 50 is up by 75.60 points or 0.30%. Sensex is up by 261 points or 0.32%.

Infosys, Wipro, TCS among top gainers

Top 3 gainers at Nifty 50 at this time are Infosys, Wipro and TCS. Top 3 losers at this time are Bharti Airtel, Eicher Motors and Eternal.

IT stocks are gaining at this time. This, after US Federal Reserve Chairman, Jerome Powell indicated in his speech that a rate cut may happen in September. A rate cut may give a boost to US economy. This in turn may benefit Indian IT companies. These companies have significant number of US clients. At 9:30 a.m. IST, Infosys share price is up by 2.38%, at Rs 1,518.50. Wipro’s share price is up by 2.36% at Rs 254.50. TCS’ share price is up by 2.07% at Rs 3,117.10.

Media stocks seeing some profit booking

All the broad market indices are in green at this time. Nifty 100 index is the top gainer at this time. It is up by 0.22%. Among sectoral indices, Nifty IT index is the top gainer at this time. It is up by 1.48%.  Nifty media index is the top loser at this time. It is down by 1.17%. Media stocks such as Zee Entertainment are seeing profit booking after the gains of Friday. At this time, Zee Entertainment’s share is down by 1.68%.

Market breadth strongly positive

Market breadth is strongly positive at this time. 1410 stocks are gaining at this time. 1072 stocks are declining.

Disclaimer : This content is only for informational purpose. It does not make any recommendation to act or invest.

Source: NSE