BSE IT index hits record high on strong Q1 show by Infosys, L&T Infotech

The S&P BSE Information Technology (IT) index hit an all-time high of 17,531, ralling nearly 6 per cent on the BSE on Thursday, after sector majors Infosys and Wipro reported better-than-expected earnings for the quarter ended June 2020 (Q1FY21).

The IT index surpassed its previous high of 16,586 recorded on February 19, 2020. In comparison, the S&P BSE Sensex was up 0.13 per cent at 36,098 points at 09:34 am.

Infosys, Tata Consultancy Services (TCS), HCL Technologies and Larsen & Toubro Infotech from the BSE IT index have hit their respective record highs, while Persistent Systems and Mphasis hit 52-week highs today.

Individually, Infosys rallied 13 per cent to Rs 936 today extending its Wednesday’s 6 per cent surge after the company reported a healthy margin expansion in Q1FY21.