Nine IT stocks rose 0.56% to 1.53% at 14:33 IST on BSE after economic data showed expansion in US manufacturing activity.
HCL Technologies (up 1.2% at Rs 818.50), Oracle Financial Services Software (up 1.51% at Rs 3,313.20), Tech Mahindra (up 0.97% at Rs 424.95), Infosys (up 0.73% at Rs 1,045.45), Wipro (up 0.62% at Rs 481.50), MindTree (up 1.15% at Rs 494.30), Hexaware Technologies (up 0.99% at Rs 192.90), MphasiS (up 0.56% at Rs 541) and Persistent Systems (up 1.53% at Rs 650.10) edged higher. TCS (down 0.2% at Rs 2,407) edged lower.
Meanwhile, the S&P BSE IT index was up 0.45% at 10,289.32. It outperformed the Sensex which was up 93.05 points or 0.33% at 28,336.34.
The S&P BSE IT index had underperformed the market over the past one month till 3 October 2016, sliding 1.53% compared with 1.01% fall in the Sensex. The index had also underperformed the market in past one quarter, declining 8.2% as against Sensex's 4.05% rise.
The Institute for Supply Management said yesterday, 3 October 2016 its manufacturing index showed activity expanded in US last month after shrinking in August, with new orders and factory production rising as employment fell. US is the biggest outsourcing market for Indian IT services firms.
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