Seven IT shares rose by 0.17% to 1.96% at 9:53 IST on BSE after the rupee weakened on Friday, 22 November 2013, to trade below the 63 per dollar mark.
Hexaware Technologies (up 1.96%), Tech Mahindra (up 1.04%), TCS (up 0.88%), Wipro (up 0.69%), MphasiS (up 0.51%), Infosys (up 0.40%) and HCL Technologies (up 0.17%), edged higher.
The S&P BSE IT index was up 0.46% at 8,415.57. It outperformed the S&P BSE Sensex, which was 0.35% at 20299.28.
The S&P BSE IT index had outperformed the market over the past one month till 21 November 2013, falling 1.47% compared with the Sensex's 3.18% fall. The index had also outperformed the market in past one quarter, rising 15.42% as against Sensex's 12.97% rise.
At 9:53 IST, the Indian currency was trading at 63.01 per dollar, down 0.11% from its previous close of 62.94.
A weak rupee boosts revenue of IT firms in rupee terms as the sector derives a lion's share of revenue from exports.
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