IT leads India's benchmark indexes higher

Persistent Systems

23/01/2025 06:41

** India's benchmark indexes NSE Nifty 50  .NSEI  and BSE
Sensex  .BSESN  rise about 0.2%, led by IT stocks on optimism
over higher spending on artificial intelligence in the U.S.
    ** IT index  .NIFTYIT  up 2.3%, taking its gains to about
4.5% in two sessions following U.S. President Donald Trump's
announcement of mammoth spending plans for AI infrastructure
    ** Wipro  WIPR.NS  climbs 4%, while Tech Mahindra  TEML.NS 
rises 2.3% to top the list of Nifty 50 gainers
    ** IT index also aided by 12% and 11% jump in Coforge
 COFO.NS  and Persistent Systems  PERS.NS , respectively,
following quarterly results
    ** COFO also leads gains in midcap index  .NIFMDCP100 ,
which is up 1.7%; smallcap index  .NIFSMCP100  1.2% higher
    ** Both the broader market indexes down about 4% in the last
two sessions
    ** While analysts attribute the rise in benchmarks on the
day to gains in high-weightage IT stocks, they expect caution to
prevail in domestic equities due to worries of moderation in
overall earnings growth and uncertainty over U.S. tariff policy

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))