Indian IT stocks hit record high on expectations of dovish commentary by Fed's Powell
** Indian IT stocks .NIFTYIT climb ~1% to hit 41,567.95, a record high
** Expectations of dovish commentary by Fed Chair Jerome Powell later this week are driving U.S. rates-sensitive IT stocks .BO
** Concerns over an U.S. economic downturn also eased after last week's data, aiding the index rally
** A steady pace of reduction in U.S. rates would be good for the equity markets in general and IT companies in particular, analysts say
** Nine of 10 stocks on index in green; heavyweights Infosys INFY.NS, TCS TCS.NS and Wipro WIPR.NS gain 1.1%, 2.4% and 1.4%, respectively
** TCS and WIPR set for fifth straight session of win, INFY on course for seventh session of gains
** Six of 10 stocks on index rated "hold" on avg; INFY and TCS only "buy" rated stocks - LSEG data
** IT index climbs 17% YTD vs ~14% gain in benchmark Nifty 50 .NSEI
Reporting by Kashish Tandon in Bengaluru
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