Business Standard

IT sector share in Nifty 50 at five-year high with overall weight of 15%

Combined market cap of five top IT companies, which are part of the index, is up 6.5% since the beginning of 2020 against a 6.6 per cent decline in market cap of the index

Tech majors had a combined market cap of Rs 15.9 trillion on Friday, up from Rs 14.9 trillion at the beginning of January this year
Premium

Tech majors had a combined market cap of Rs 15.9 trillion on Friday, up from Rs 14.9 trillion at the beginning of January this year

Krishna Kant Mumbai
Information technology (IT) majors such as Tata Consultancy Services (TCS), Infosys, and Wipro have turned out to be the favourite defensive bets for equity investors worried about the economic uncertainty after the Covid-19 lockdown.
 
The combined weight of IT companies in the benchmark Nifty 50 index is now at a five-year high of 15 per cent as these companies continue to outperform the broader market. In comparison, they accounted for 12.3 per cent of the index at the end of 2019 and 12.8 per cent in December 2018. 

The combined market capitalisation of five IT companies, which are part of

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jul 19 2020 | 6:40 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com