IT shares in focus; TCS hits 9-mth high; Tech Mahindra surges 11% in 2 days

Shares of information technology (IT) companies were buzzing on Thursday, with sector giant Tata Consultancy Services (TCS) hitting a nine-month high, and Tech Mahindra surging 4 per cent on the National Stock Exchange (NSE) in the intra-day trade.

At 10:42 am, the Nifty IT index was the top sectoral gainer, up 1.8 per cent on the NSE, as compared to 0.50 per cent rise in the Nifty 50. Tech Mahindra, Mphasis, and L&T Technology Services (LTTS) were up 4 per cent. LTI Mindtree, Persistent Systems, TCS, Wipro, Infosys, and HCL Technologies, meanwhile, rose in the range of 1 per cent to 3 per cent.

Thus far in calendar year 2023, the index has outperformed the market by surging 10 per cent as compared to 0.55 per cent decline in the Nifty 50.