Oracle Financial Services Software (up 1.09%), HCL Technologies (up 1.08%), Infosys (up 0.96%), Wipro (up 0.63%), Tech Mahindra (up 0.21%), TCS (up 0.18%), iGate Patni (up 0.07%) and MphasiS (up 0.03%), edged higher.
The BSE IT index was up 0.30% at 5,750.90. It outperformed the Sensex, which was down 1.14% at 16,027.89.
The BSE IT index had outperformed the market over the past one month until 9 December 2011, falling 1.03% compared with the Sensex's 6.62% decline. The index had also outperformed the market in past one quarter, jumping 15.83% as against 3.87% fall in the Sensex.
US is the biggest outsourcing market for Indian IT firms and Europe is the second biggest market after the US.
In US economic data, the trade deficit narrowed in October for the fourth month in a row, as oil exports helped to offset record imports from China. The October deficit was smaller than Wall Street expectations. Separately, an early reading on consumer sentiment in December topped expectations.
Meanwhile, investors cheered a new European fiscal pact aimed at fixing the region's debt crisis and preventing a collapse of the euro currency.
Under the deal reached Friday, all 17 countries that use the euro agreed to allow a central European authority to oversee their future budgets. Nine other EU nations are considering it. Britain is the lone holdout. They also agreed to automatic penalties if they spend too much.
In addition to tighter controls on spending, Europe's new "fiscal compact'' calls for the launch of a permanent bailout fund for euro nations in 2012, a year ahead of schedule. The deal also will send 200 billion euros ($267 billion) to the International Monetary Fund, which controls another emergency fund for countries in crisis.
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