Indian IT stocks bounced back to trade higher on Thursday, despite a broader sell-off in the Indian stock market today. The Nifty IT index gained over 0.3%, with eight of its ten constituents trading in the green.
Coforge, LTIMindtree, Persistent Systems, and HCL Technologies rallied 1-2%, while Mphasis, Wipro, Tata Consultancy Services (TCS) and Tech Mahindra also traded higher.
In contrast, Oracle Financial Services Software and Infosys traded lower.
The gains in IT stocks came despite a sharp sell-off in the Indian stock market today. The benchmarks Sensex and Nifty 50 slipped over 2% during the session.
The Sensex crashed 1,037.63 points, or 1.42%, and was trading at 72,096.69, while the Nifty 50 was down 326.80 points, or 1.44%, at 22,354.70.
(More to come)