IT stocks escaped the wrath of bears on benchmarks during Thursday's trading session. The Nifty IT index traded outperformed Nifty 50, despite the heavyweight
Tata Consultancy Services (TCS) witnessing major profit-booking.
At around 1.49 pm, Nifty IT was trading at 25,457.50 up 174.55 points or 0.69%. The index has touched an intraday high and low of 25,686.85 and 25,262.65 respectively.
On the index, TCS dived by Rs30.65 or 1% and was trading at Rs3,042.45 per piece.
HCL Tech was the other stock in red, however, performed on a flat note.
TCS has been recognized as a Leader in the Everest Group PEAK Matrix for Artificial Intelligence (AI) Services.
The Nifty IT index was lifted by huge buying in Naukri.com stock surging by 6.2% followed by
Mphasis soaring 3% and Tech Mahindra advancing 2%.
Nearly, 1% gain each was recorded in
Mindtree and L&T Infotech.
While Wipro and
Infosys zoomed marginally. However, Coforge traded flat.
Sensex has shed over 420 points and was hovering near 51,280. Nifty 50, meanwhile, struggled below 15,100 mark with nearly 115 points drop.