business / news / / The Economic Times
The Nifty IT index climbed 1.2% to around 28,049, emerging as the only sectoral index trading in the green.
Oracle Financial Services Software was the top gainer in IT stocks, rising over 3% on Monday.
KEY POINTS
- The Nifty IT index climbed 1.2% despite broader market declines and reached 28,049 points.
- Rupee dropped to a record low of 96.18 against the US dollar, aiding IT profit outlook.
- Nifty IT index has plunged 12% in one month, with major IT stocks hitting 52-week lows last week.
- Investor optimism in IT is partly driven by anticipated Nvidia earnings and rupee depreciation benefits.
COMPANIES
Summarized by Newsio from The Economic Times. How we summarize →