Economy
IT stocks rebound sharply in October with TCS gaining 22%
Livemint1h
THE BRIEF
1
Domestic technology stocks rebounded strongly in October, with the Nifty IT index advancing 16% and reclaiming the 30,000 mark after heavy earlier losses.
2
TCS led the rally by surging 22%, while Tech Mahindra and Wipro each gained 20%, driven by better-than-expected September-quarter results and attractive valuations.
3
The combined market capitalisation of Nifty IT stocks increased by ₹3.87 lakh crore to reach ₹25.88 lakh crore.