Weakening rupee propels IT stocks higher

Internet Desk | Updated on December 18, 2019 Published on December 18, 2019

A weaker rupee, which lost 0.15 per cent in early trade against the dollar, powered Wipro Ltd and Tata Consultancy Services Ltd to the top of the NSE index.

The Nifty IT index was trading 0.96 per cent higher at 15,786.90 around 10:30 am.

The Nifty IT index rose as much as 1.27 per cent, with Tata Elxsi leading the pack with a gain of 2.41 per cent.

Shares of Wipro (up 1.61 per cent), TCS (up 1.19 per cent), Tech Mahindra (up 1.16 per cent), Mindtree (up 0.89 per cent) and Infosys (up 0.79 per cent) were the other top gainers in the index.

Benchmark NSE Nifty50 index was up 8.70 points at 12,173.70 while the BSE Sensex was up 47.31 points at 41,399.48.

Published on December 18, 2019
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