Shares of eight IT companies rose 0.1% to 6.31% after the rupee fell beyond 73 mark against US dollar.
The Nifty IT index was up 1.78% to 15,701.80, extending its winning run to second day. The index has risen 3.21% in two trading days.NIIT Technologies (up 6.31%), Tata Elxsi (up 5.99%), HCL Technologies (up 3.36%), TCS (up 2.85%), Infosys (up 1.36%), Tech Mahindra (up 1.13%), Hexaware Technologies (up 0.28%) and MphasiS (up 0.1%) advanced.
The Indian rupee fell sharply on Tuesday, breaching the 73 mark against the US dollar. The partially convertible rupee was hovering at 73.095, compared with its close of 72.760 during the previous trading session.
A weak rupee boosts revenues of IT firms in rupee terms as the sector derives a lion's share of revenue from exports.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
