- Nifty IT index rose 1.31% for the third straight session with all nine stocks gaining
- Coforge Ltd. led gains, rising 1.80% to Rs. 1,491.20 among top IT companies
- Infosys, Tech Mahindra, Persistent Systems, TCS, Wipro, HCL, and Mphasis also gained
The Nifty IT index extended its rally for a third straight session on Wednesday, rising 1.31% with all nine constituents in the green, as the risk-on sentiment triggered by the US-Iran peace deal continued to lift technology stocks both globally and at home.
Coforge Ltd. led the gains, rising 1.80% to Rs. 1,491.20. Infosys Ltd. advanced 1.51% to Rs. 1,160.90, Tech Mahindra Ltd. gained 1.31% to Rs. 1,465.80, and Persistent Systems Ltd. added 1.23% to Rs. 5,078.
Tata Consultancy Services Ltd., Wipro Ltd., HCL Technologies Ltd. and Mphasis Ltd. also ended higher. The index added Rs. 26,159.58 crore in market capitalisation over the session.
Impact of US-Iran Peace Deal
The index has been on a sustained uptrend since the start of the week. Wall Street closed broadly higher on Monday, with the Nasdaq Composite surging 3.07% as technology stocks led a sharp rally following the Iran ceasefire announcement and a near 5% decline in oil prices.
The domestic IT pack mirrored that move, posting strong gains through Monday and Tuesday's sessions as well, with the index now firmly in positive territory for the week.
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