Nifty IT index rises nearly 8% on Infosys, TCS gains
The Nifty IT index has shot up nearly 8% in only three days, thanks mostly to strong gains from Infosys and TCS, both jumping more than 5%.
This rally is all about investors getting excited over the future of AI-powered tech, even as other sectors like banking and auto took a hit.
On June 2, the index kept climbing, opening higher and showing that confidence in India's big tech players is still going strong.
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Chartist Laurence Balanco even mentioned IT stocks could climb another 12.5% as they catch up to their longer-term averages.
Other companies like Mphasis and LTM also saw decent gains during this run.
For anyone tracking tech stocks or curious about AI's impact on business, it's been an interesting week to watch.