Tech stocks gain as recovery takes hold

Nifty IT index hits all-time high as IT outlook turns positive

- SHIVAM TYAGI

Shares of information technology (IT) companies have jumped up to 11 percent over the past month, as the outlook for the sector turned positive due to a confluence of factors, including US President-elect Donald Trump's return to the White House.

The National Stock Exchange Nifty IT Index reached an all-time high on Tuesday, hitting 44,244.60 intraday before closing at 44,085.95, a 1.07 percent increase.

Over the past 30 days, the index has risen 3.76 percent, compared to a modest 0.17 percent gain in the benchmark Nifty 50 index.

Among the major stocks, Coforge rallied 11.26 percent, Wipro rose 7.18 percent, Tata Consultancy Services climbed 6.35 percent, and L&T Technology Services soared 5.57 percent.

Other companies, including Infosys, Persistent Systems, LTIMindtree, and HCLTech, saw gains ranging from 1 to 4 percent over the past four weeks.