IT indices hit new high on weak rupee; TCS, Infosys hit fresh highs

Shares of information technology (IT) companies continued their upward journey with Nifty IT and the S&P BSE IT index hitting their respective new highs on weak rupee against the US dollar.

Nifty IT index (15,796) and the S&P BSE IT index (15,578), up nearly 2% each have touched new high on Friday. In comparison, the benchmark indices were up 0.4% each.

Thus far in the calendar year 2018, Nifty IT index rallied 35% against 12% rise in the Nifty 50 index.

Tata Consultancy Services (TCS), Infosys, HCL Technologies, Mindtree, Wipro, Tech Mahindra, Tata Elxsi and KPIT Technologies