Nifty IT rises 5% in 1 week; will Fed rate cut aid further rally in stocks?

Among individual stocks, Infosys, Wipro, Oracle Financial Services Software, and Mphasis shares rose 3 per cent each on Monday

IT shares rising today

 

Shares of information technology (IT) companies continued their upward movement on Monday with the Nifty IT index surging over 2 per cent on the National Stock Exchange (NSE). The sectoral gauge was outperforming the market.

 

In the past one week, the Nifty IT index has rallied 5 per cent as against a 0.36-per cent rise in the Nifty50 index during the same period.

 

Among individual stocks, Infosys, Wipro, Oracle Financial Services Software, and Mphasis shares rose 3 per cent each, while share prices of Tata Consultancy Services (TCS), HCL Technologies, Coforge, Persistent Systems, LTIMindtree,