Five IT stocks rose by 0.17% to 1.01% at 10:10 IST on BSE as rupee edged lower against the dollar.
Meanwhile, the S&P BSE Sensex was up 131.12 points or 0.47% at 28,019.02.
Among IT stocks, Tech Mahindra (up 0.38%), TCS (up 1.01%), HCL Technologies (up 0.17%) and Wipro (up 1.16%) gained.
Infosys rose 0.3%. The company announces Q3 results on Friday, 9 January 2015.
The BSE IT index had underperformed the market over the past one month till 2 January 2015, falling 3.71% compared with Sensex's 1.96% fall. The index had also underperformed the market in past one quarter, declining 1.6% as against Sensex's 4.97% rise.
The rupee has weakened against the dollar recently. In the foreign exchange market, the rupee edged lower against the dollar today, 5 January 2015. The partially convertible rupee was hovering at 63.3775, compared with its close of 63.29 during the previous trading session.
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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