IT stocks were on buyers' radar on Thursday.
New Delhi: IT stocks were on buyers' radar on Thursday, surging up to 4.5 per cent, after the rupee weakened to a fresh five-month low. Shares of Tata Consultancy Services (TCS) rose by 4.04 per cent, Infosys 3.41 per cent and Wipro 0.28 per cent on BSE.
Among others, HCL Technologies surged 4.47 per cent, Tech Mahindra 3.10 per cent and Hexaware Technologies 1.59 per cent. Led by gains in these stocks, the BSE IT index jumped 3.18 per cent to end at 12,717.40.
TCS and Infosys were the biggest gainers on the BSE 30-share index. Infosys will announce its fourth quarter results tomorrow. Weak rupee is largely seen as positive for export-focused sectors. Big IT companies earn a major chunk of their revenues in dollar from their US clients.