Indian IT stocks jump Monday as OFSS, Infosys lead gains
Business
Indian IT stocks jumped on Monday, riding a wave of positive global sentiment and easing tensions.
OFSS led the pack with a 3.74% rise, Infosys climbed 3.41%, and Hexaware and Coforge also saw solid gains.
The sector's strong showing caught investors' attention early in the day.
TCS and HCL Technologies rise 2.18%
TCS and HCL Technologies added to the momentum, each up 2.18%. The Nifty IT index outperformed others, boosted by falling oil prices and improved market confidence.
With upbeat US tech earnings expected this week and Infosys getting a nod from Jefferies after its quarterly results, optimism for Indian IT exporters is high, especially since so much of their business comes from overseas markets.