The Nifty IT index staged a strong comeback on July 2, climbing more than 3 per cent after witnessing four consecutive sessions of losses. The rally was driven by renewed buying in large-cap technology stocks, making the IT index the best-performing sector on the NSE.
Frontline IT companies led the gains as investors returned to the sector following the recent correction.
Infosys surged 5.09 per cent to Rs 1,035.40, emerging as the top gainer on the Nifty 50. HCLTech rose 4.08 per cent to Rs 1,076.40, while Tata Consultancy Services (TCS) advanced 3.17 per cent to Rs 3,476.40. Tech Mahindra gained 2.55 per cent to Rs 1,397.00 and Wipro climbed 2.30 per cent to Rs 174.04.
With five IT companies featuring among the top 10 gainers on the Nifty 50, the rally reflected improving investor sentiment towards the sector after a sharp correction in the previous four sessions.
The buying interest was not limited to large-cap stocks. Mid-cap IT companies also participated in the rally, indicating broad-based strength across the sector.
Coforge jumped 4.83 per cent, while Mphasis, Tata Technologies, Tata Elxsi and Persistent Systems gained between 2 per cent and 5 per cent, making IT one of the strongest-performing segments in the broader market.
This is a developing story...
