IT stocks manage to sail in turbulent times
DSIJ Intelligence / 12 Sep 2016
The bull run of markets seems to have been stalled on September 12, with bears gaining control. The Sensex is down over 400 points and the Nifty has plunged over 100 points citing global cues.
The bull run of markets seems to have been stalled on September 12, with bears gaining control. The Sensex is down over 400 points and the Nifty has plunged over 100 points citing global cues. But the interesting part is that the underdog sector Information Technology is standing tall in the windy day which has hit all major stocks of Auto, Banking, FMCG etc.
The Information Technology index has as at 11.58 am is currently trading at 10319.58, which is up by 1.10 per cent. Cyient and NIIT are the largest gainers in the indices, whereas the giants like Infosys, HCL Tech, and Tech Mahindra have managed to remain in the green too.
As at 12 pm, Infosys is up by 1.75 per cent and HCL Tech, and Tech Mahindra are up 1.26 and 1.23 per cent respectively. Wipro has too remained in green and is marginally up by 0.54 per cent and the major player in the index TCS is up by 0.28 per cent.
Meanwhile, Tech Mahindra once again has made it to the Dow Jones Sustainability Index under Emerging Markets and DJSI World Category and emerged a leader in sustainability.