India's Nifty IT eyes best week in six on upbeat US data
** India's Nifty IT index .NIFTYIT eyes best week in six on firm U.S. economic data
** Recent data, including benign consumer price inflation, strong retail sales and low weekly jobless claims have quelled fears of a recession in United States - a key revenue demography for domestic IT firms
** All 10 members of IT index up, led by 7%gain in Mphasis MBFL.NS
** Infosys INFY.NS, Tata Consultancy Services TCS.NS - heaviest stocks on the index - add 1.7% and 2.5%,respectively
** All six IT stocks on benchmark Nifty 50 .NSEI are top weekly gainers so far
Company name | Weekly gain so far (%) |
TCS | 4.1 |
Infosys | 4.7 |
LTIMindtree | 3.9 |
Wipro | 4.5 |
Tech Mahindra | 4.4 |
HCL Tech | 4.5 |
** NIFTYIT, which has advanced on all trading days this week, has gained 14.8%this year vs 12.7%gain in Nifty
Reporting by Hritam Mukherjee in Bengaluru
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