IT Stocks Rally for Third Straight Session; Nifty IT Jumps 2.04% Led by Tech Mahindra and LTIMindtree

Mumbai, November 12: Major IT stocks ended today’s trading session in the green. Nifty IT closed 2.04%, or 738.50 points higher at 36,855.40. It made an intraday high of 36,911.95 and an intraday low of 36,290.80. The gains in IT stocks were driven by hopes of a possible solution to the US government shutdown and a potential India-US trade agreement.

Top Gainers in Nifty IT

All the 10 stocks in Nifty IT ended with gains at the market close today. Tech Mahindra led the rally with a 3.42% rise to ₹1,456.10, followed by LTI Mindtree, which gained 3.20% to ₹5,893.50. Tata Consultancy Services (TCS) was up 2.78% at ₹3,131.80, while Oracle Financial Services rose 1.84% to ₹8,394.00. Mphasis jumped by 1.74% at ₹2,825.80, Persistent by 1.72% at ₹6,134.50, and Coforge by 1.70% at ₹1,827.70. HCL Technologies increased by 1.53% to ₹1,594, and Wipro increased by 1.46% to ₹245.22. Infosys also moved higher by 1.40% to ₹1,551.70.

Investor Takeaway

IT stocks are rising as investors are hopeful for a trade negotiation between the US and India, and the resolution of the US government shutdown. If this happens, big IT companies can benefit as they have international clients and offices in the US. It remains to be seen if IT stocks and Nifty IT can maintain this performance in the coming days.

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