Seven IT stocks were up 1.25% to 3.99% at 14:49 IST on BSE after the latest data showed US jobless claims fell last week.
Hexaware Technologies (up 3.99% at Rs 131.60), TCS (up 2.69% at Rs 2,156), Oracle Financial Services Software (up 2% at Rs 3,299.95), Tech Mahindra (up 1.78% at Rs 1,860), Wipro (up 1.43% at Rs 555.50), CMC (up 1.33% at Rs 1,564.50) and Infosys (up 1.25% at Rs 3,559.55) edged higher.
The S&P BSE IT index was up 1.57% at 9,131.96. The index outperformed the S&P BSE Sensex, which was up 0.63% at 21,207.92.
The BSE IT index had outperformed the market over the past one month till 26 December 2013, advancing 7.6% compared with the Sensex's 3.18% rise. The index had also outperformed the market in past one quarter, surging 14.84% as against Sensex's 5.94% rise.
Fewer Americans than projected filed applications for unemployment benefits last week, indicating the US labor market is improving. Jobless claims declined by 42,000 to 338,000 in the week ended Dec. 21, a Labor Department report showed in Washington on Thursday, 26 Decemebr 2013. US consumer confidence climbed last week to a four-month high as an improving job market and holiday discounts put Americans in the mood to shop.
The United States is the biggest outsourcing market for the Indian IT companies.
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