IT stocks on Tuesday were the bulls of Dalal Street, despite overall benchmarks gives away early record highs and were trading on a flat note. The upside in domestic IT stocks was tracking tech-heavy Nasdaq Composite which settled at near-record high in overnight trade.
At around 11.12 am, Nifty IT was trading at 22,555.50 up 114.65 points or 0.51%. Although, the index has gained to a much higher level to an intraday high of 22,641.70.
The index's performance was lifted by buying sentiment in heavyweights like
HCL Tech (+1.6%) and Infosys (+1%) which were top gainers with a substantial contribution from TCS,
Wipro and L&T Infotech which also gained near 1%.
Mphasis was also in the list, surging by 1%. While
Mindtree gained by 0.50%.
Among the underperformers were - Naukri (-1.2%) and Tech Mahindra (-1.06%). Coforge traded flat, however, in the red.
On Monday, Nasdaq zoomed to an all-time high as investors flocked into technology stocks as fresh Covid-19 restrictions were back in focus which hampered sentiments over further economic impact due to the pandemic, resulting in a downside in other US indices.
Nasdaq settled higher by 0.5%, after climbing to a new record high of over 12,500 as tech biggies like Apple Inc, Facebook Inc and Tesla Inc soared between 1-5%.