Adani Enterp. 2446.00↑12.35(0.51%)
Adani Ports 745.85↑0.45(0.06%)
Apollo Hospitals 5020.30↑80.20(1.62%)
Asian Paints 3218.45↑5.70(0.18%)
Axis Bank 979.45↑11.25(1.16%)
B P C L 365.30↑9.15(2.57%)
Bajaj Auto 4767.65↑41.40(0.88%)
Bajaj Finance 7104.85↓-9.10(-0.13%)
Bajaj Finserv 1479.15↑4.05(0.27%)
Bharti Airtel 834.20↑4.75(0.57%)
Britannia Inds. 4860.00↑154.60(3.29%)
Cipla 977.10↑5.05(0.52%)
Coal India 230.10↑2.30(1.01%)
Divi's Lab. 3555.00↑17.10(0.48%)
Dr Reddy's Labs 4670.00↑33.35(0.72%)
Eicher Motors 3722.85↑17.75(0.48%)
Grasim Inds 1764.45↓-1.95(-0.11%)
H D F C 2636.70↑1.35(0.05%)
HCL Technologies 1129.05↑0.45(0.04%)
HDFC Bank 1599.05↓-0.35(-0.02%)
HDFC Life Insur. 591.30↑11.60(2.00%)
Hero Motocorp 2959.00↑54.20(1.87%)
Hind. Unilever 2718.00↑26.85(1.00%)
Hindalco Inds. 416.55↑1.00(0.24%)
ICICI Bank 934.35↓-7.75(-0.82%)
IndusInd Bank 1309.45↑3.45(0.26%)
Infosys 1284.95↑5.95(0.47%)
ITC 443.45↑0.65(0.15%)
JSW Steel 720.00↑7.15(1.00%)
Kotak Mah. Bank 1945.55↓-13.50(-0.69%)
Larsen & Toubro 2298.00↑20.05(0.88%)
M & M 1405.15↓-6.05(-0.43%)
Maruti Suzuki 9752.35↑16.15(0.17%)
Nestle India 22154.00↑448.60(2.07%)
NTPC 176.15↑0.75(0.43%)
O N G C 153.60↓-0.05(-0.03%)
Power Grid Corpn 238.75↑3.45(1.47%)
Reliance Industr 2476.00↓-3.35(-0.14%)
SBI Life Insuran 1239.00↑16.00(1.31%)
St Bk of India 587.95↑2.60(0.44%)
Sun Pharma.Inds. 1016.00↑2.20(0.22%)
Tata Consumer 811.60↑19.50(2.46%)
Tata Motors 568.95↑13.20(2.38%)
Tata Steel 109.25↑0.25(0.23%)
TCS 3250.30↑18.00(0.56%)
Tech Mahindra 1085.30↓-0.95(-0.09%)
Titan Company 2886.45↑5.00(0.17%)
UltraTech Cem. 8119.00↑9.45(0.12%)
UPL 696.55↑2.55(0.37%)
Wipro 402.50↑2.55(0.64%)

Nifty IT index reclaims 200-DMA; what does this mean for IT stocks?

So far this year, Persistent Systems is the top contender surging close to 30 per cent, while Infosys remains as the top loser, plunging 14 per cent.

Avdhut Bagkar Mumbai

Artificial intelligence, digital technology, AI, machine learning

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IT index surpassed the 200-DMA

4 min read Last Updated : May 23 2023 | 11:28 AM IST

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Nifty IT index surpassed the 200-day moving average (DMA) for the third time this year, fuelling positive rally in IT stocks. Especially in Wipro and LTIMindtree, where the former crossed the 200-DMA first time, post January 2022 and the latter set a new current year high.

On Tuesday, Barring Coforge and Persistent Systems, all other IT stocks were seen trading in green, maintaining their upward course.

While the IT index had a tough phase last year, where it tumbled 26 per cent, continued efforts to cross the 200-DMA could provide some respite in the current drawdown.