IT stocks in limelight; gain up to 4%

IT stocks were in limelight today, surging up to 4 per cent on weak rupee against the US dollar, which is largely seen as positive for export-focused sectors.
Shares of HCL Technologies surged 3.88 per cent, Tech Mahindra 3.73 per cent, Hexaware Technologies 3.52 per cent and Tata Consultancy Services 3.33 per cent on BSE.
TCS was the biggest gainer among the 30-Sensex blue-chip scrips. Among others, Infosys gained 1.23 per cent and Wipro 0.31 per cent.
The BSE IT index went up 2.20 per cent to end at 12,338.40. "During the session, only IT conglomerates were on a roll as weakening of Indian Rupee against the US Dollar provided some strength to this space. We may continue to see such positive traction in marquee names within this basket, said Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking.

The rupee was trading down by 4 paise at 64.83 against the US currency in afternoon trade. For the second consecutive year, Nasscom has projected a flat export growth in 2018-19 at 7-9 per cent.