Shares of Indian IT companies, including Infosys and TCS, jumped up to 5% on Tuesday, extending their rebound from the previous session. The momentum in IT counters comes after a sharp correction that has dragged sector valuations closer to levels last seen during the 2008–09 subprime crisis.
The Nifty IT index jumped more than 4% to hover near 29,566 on Tuesday morning, while the broader Nifty index was trading with only marginal gains. The sectoral index has now gained more than 8% (over 2,205 points) in just three sessions.
