IT investors finally found some relief as the shares of TCS, Wipro, Coforge and others rebounded up to 6% on Wednesday, snapping a massive eight-session-long losing streak, although brokerages remained cautious ahead of the upcoming Q2 earnings season.
Nifty IT jumped nearly 3% to cross 28,380 on Wednesday morning, after dropping more than 5% over the past eight sessions. IT stocks were among the top gainers on market today as the US dollar strengthened further, wrapping up its best month since June after the Federal Reserve’s renewed focus on taming inflation pushed interest-rate expectations and US bond yields higher.
