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IT stocks rally ahead of US election outcome; Infosys, Wipro advance 4%

Biden has indicated raising corporate taxes and capital gains tax if voted to power.

Average salary in IT sector has also increased by 30 per cent from 2014, say company officials
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HCL Technologies, Tata Consultancy Services and Mphasis, meanwhile, were up 2 per cent on the National Stock Exchange (NSE) today.

SI Reporter Mumbai
Shares of information technology (IT) companies were in focus in the early morning trade on Wednesday with the Nifty IT index gaining 3 per cent amid counting of votes in the crucial US presidential election. According to the latest trend, Democratic candidate Joe Biden has secured 209 electoral votes so far, while Donald Trump has won 118. A candidate needs to win 270 electoral votes to capture the presidency.

According to market analysts, it would be a win-win situation for the Indian IT sector in both the scenarios. Biden has indicated relaxation in H-1B visa norms while Trump's win is