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IT stocks in demand on weak rupee

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Capital Market
Last Updated : Jun 06 2013 | 12:00 PM IST

Hexaware Technologies (up 3.14%), MphasiS (up 1.66%), Tech Mahindra (up 1.62%), Mahindra Satyam (up 1.60%), Wipro (up 1.20%), HCL Technologies (up 1.20%), Oracle Financial Services Software (up 0.51%), CMC (up 0.27%) and TCS (up 0.16%), edged higher. However, the sector bellwether Infosys was down 1.18%.

The S&P BSE IT index was down 0.08% at 6,047.72. It outperformed the S&P BSE Sensex was down 0.52% at 19,466.92.

The rupee fell to 57 a dollar today, 6 June 2013, its lowest since 28 June 2012, versus its previous close of 56.7250/7350. 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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First Published: Jun 06 2013 | 10:45 AM IST

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