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On February 18, the Nifty IT index scored about 150 points, which increased to 41,226 and broke the 7-day defeat and lines
Nifty It Index 7-Day losing streak
Nifty it index increases: On 18 February, the Nifty It Index scored around 150 points, which increased to 41,226 and broke its 7-day defeat. The rally came when it increased in shares, the Indian rupee threatened to violate 87 points against the US dollar 5 money lower opening 5 money.
A strong US dollar against rupee generally benefits exporters earned in dollars, such as IT service, pharmaceuticals and textiles, despite the fall in rupee, lead to accelerating the prices of their stock.
LTI Mindtree led the profit, which increased from 2.41% to Rs 5,605 per share. The system traded at Rs 5,612 per share, with a continuous increase of 1.47%, while L&T Technology Services (LTTS) rose by 1.46%, reaching Rs 4,887 per share. Other shares such as Tech Mahindra, Wipro and Infosys also recorded a minor advantage.
However, some stocks encouraged the trend by trading in raids. TCS and MPhasis saw minor losses, while Coforge fell more than 1% to Rs 7,605 per share.
The increase in heavyweight stocks such as LTI Mindtree and Infosys helped pull the index upwards, but the decline in coforge and TCS reduced the profit. The Nifty It Index had seen continuous losses in the last seven sessions since February 7, which was about 1,950 points amidst market volatility. On February 18, Sensex fell nearly 367 points to 75,630, while the Nifty fell 127 points, settling at 22,832.
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