Hexaware Tech, Wipro: Are IT stocks a safe bet in the current market?

Information technology (IT) stocks were trading mixed on Wednesday. The Nifty IT index was down 0.6 per cent at 18,409 levels as compared to around 1 percent fall in the Nifty50 index. On a year-to-date (YTD) basis, the Nifty IT index has outperformed the market by surging nearly 18 per cent (as of Tuesday's close) as compared to a 7 per cent fall in the benchmark Nifty50, ACE Equity data show.

Among individual stocks, Hexaware Technologies was up over 1 per cent at Rs 420 as the company's buyback offer for delisting started today. Wipro, too,