Software services exporters such as Infosys rise after minutes from the Federal Reserve meeting suggest the US central bank is moving towards monetary stimulus measures.
The NSE's gauge of IT stocks has risen 7% in August, outperforming the 3.5% gain in the broader NSE index as of Wednesday. The gains this month mark a recovery from declines in July, when the IT index fell 7.3% after poor earnings from Infosys and Wipro. Worries about the global economy have eased, while hopes grow for improved IT spending from financial firms, analysts say. * A fall in valuations after the April-June earnings also help lift sector, they add. Infosys gains 1.4%, Wipro is up 3.2%, while TCS adds 1.9%.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
