IT stocks gained as rupee hit a record low. Shares of Indian IT firms rose with the Nifty IT index climbing 1.6 per cent, accounting for more than half of broader NSE index's gains.
The rupee today hit a record low of 69.13 per dollar, tracking weakness in yuan. The United States is the biggest market for Indian software services exporters.
Infosys Ltd and Tech Mahindra Ltd rose 3.4 per cent and 2.9 per cent, respectively. Tata Consultancy Services Ltd, the country's biggest IT co by market capitalisation, rose 0.84 per cent, while HCL Technologies Ltd climbed 2 per cent.
Wipro Ltd, which will report its June-quarter results later in the day, rose 1.7 per cent. Nifty IT index had gained 24.1 per cent this year as of last close, compared with the NSE index's 4.1 per cent rise.
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