Nifty IT index hits record high on swift recovery hope; TCS hits new peak

TCS, Infosys, Wipro, Larsen & Toubro Infotech, Coforge and HCL Technologies from Nifty IT index were up in the range of 2 per cent to 4 per cent on the NSE

Shares of information technologies (IT) companies were in focus with Nifty IT index hitting an all-time high of 18,653 on the National Stock Exchange (NSE) on Tuesday on expectation of a swift recovery in BFSI (banking, financial services and insurance) sector to pre-Covid growth levels through FY21. The optimism comes on the back of receding supply challenges and steady technology budgets at large US banks.

That apart, the KV Kamath Committee, which identified 26 sectors most affected by Covid-19, recognised IT sector as "mostly unaffected".

Tata Consultancy Services (TCS), Infosys, Wipro, Larsen & Toubro Infotech (LTI), Coforge and HCL Technologies from Nifty