Indian IT stocks were mixed in Friday's trade after the sector came under heavy selling pressure earlier in the week, with investors continuing to assess concerns around US interest rates, technology spending and company-specific developments.
The Nifty IT index fell as much as 0.76% to 28,671.80 during the session before recovering. At around 9:25 a.m., the index was at 28,865.55, down 0.09%, after touching an intraday high of 29,120.85.
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Among the gainers, Sonata Software led the pack, rising 1.02%, followed by Tech Mahindra, which gained 0.92%. Birlasoft advanced 0.53%, while Infosys rose 0.42%. TCS was up 0.38%, while Oracle Financial Services Software, Wipro and Persistent Systems gained 0.23%, 0.17% and 0.05%, respectively.
The broader mid- and small-cap IT space remained under pressure. Latent View Analytics was the biggest decliner, falling 1.35%, followed by Newgen Software Technologies at 0.85%. Tata Elxsi declined 0.74%, while KPIT Technologies and Happiest Minds Technologies fell 0.72% and 0.69%, respectively.
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