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IT stocks Rise; Infosys Jumps 2-pc

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Shares of IT companies were moving in the bullish territory during the mid-morning session, as part of a strength picked up in stocks

The Nifty IT index was trading higher by 0.94 percent at 14,826.35 at around 11.25 am, Wednesday.  Meantime, benchmark Nifty rose 55 points at 11643-marks and the Sensex benchmark of the BSE scaled up 39169-points, up 205-points.

Shares of IT Giant Infosys today bounced back, rising 2.6 percent after a steep selloff in yesterday’s session on concerns over a whistle-blower complaint, whereby its shares on Tuesday plunged about 17%, wiping Rs.53,451-Cr from its M-Cap.

However today, The Infosys scrip gained 2.6% to Rs. 651.90 on the NSE. On the BSE, it rose by 1.35% to Rs652.

Among the stocks on the Nifty IT index, other than Infosys, shares Justdial rose 2.95%, HCL Tech rose 2.35%, Tech Mahindra went up 1.68% and Tata Elxsi added 1.62% Get best stock Tips from the experts.

Also, Hexaware technologies, TCS, Wipro and MindTree gained in IT stocks at minimum levels surrounding to 1%

In the 50-pack stocks of the Nifty, 32 shares witness buying pressure, while the remains 18 nos see some selling. For Free stock tips  visit our website.

Eicher Motors, Titan Company has contributed 2 to 3% strength on the benchmark Nifty.