IT stocks rally; TCS hits lifetime high

Shares of TCS surged today to touch a lifetime high following sustained buying in the counter. The shares touched a 52-week high of Rs 1320 on the National Stock Exchange.

IT counters surged today with Infosys and Wipro also in the limelight following buying support. Infosys gained 1.55%, while Wipro gained 2.71% on the National Stock Exchange.

Buying in software companies can be attributed to renewed hopes of quantitative easing in the US, which could see better spends among clients. Ironically, IT shares gained today despite a sharp drop in the rupee.

The IT index rose more than 1%.

GoodReturns.in