Eleven IT stocks rose by 0.18% to 3.14% at 12:07 IST on BSE as Indian rupee declined against the dollar.
Infosys (up 3.14%), CMC (up 2.60%), HCL Technologies (up 2.51%), TCS (up 2.51%), Wipro (up 2.26%), Tech Mahindra (up 1.37%), MindTree (up 1.16%), Persistent Systems (up 0.98%), MphasiS (up 0.96%), Hexaware Technologies (up 0.57%) and Oracle Financial Services Software (up 0.18%), edged higher.
The BSE IT index was up 2.36% at 11,541.77. It outperformed the Sensex, which was down 0.34% at 27,770.47.
The BSE IT index had outperformed the market over the past one month till 11 August 2015, rising 11.02% compared with 0.74% rise in the Sensex. The index had also outperformed the market in past one quarter, rising 5.18% as against Sensex's 1.30% rise.
A weak rupee boosts revenue of IT firms in rupee terms as the sector derives a lion's share of revenue from exports.
In the foreign exchange market, India's rupee fell sharply against the dollar as China's move to devalue the yuan sparked fears of a global currency war. The partially convertible rupee was currently hovering at 64.82 against the dollar, compared with its close of 64.2075 during the previous trading session.
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