The Nifty IT index has achieved a new record high, reaching 41,746.55 points and currently trading 1% higher. This milestone reflects a strong performance in the technology sector, driven by positive global market cues.
Top Gainers in the Nifty IT Index
- Persistent Systems: ₹4,962.00 (+1.80%)
- L&T Technology Services (LTTS): ₹5,372.50 (+1.67%)
- Coforge: ₹6,157.00 (+1.61%)
- Mphasis: ₹3,020.00 (+1.42%)
- L&T Infotech (LTIM): ₹5,747.95 (+1.27%)
The rise in the Nifty IT index comes amid global economic events. U.S. stocks typically show gains around the Federal Reserve’s annual Jackson Hole Economic Policy Symposium. This year’s symposium will be held from August 22-24 in Jackson Hole, Wyoming. Federal Reserve Chair Jerome Powell is scheduled to speak on Friday at 10 a.m. Eastern Time, a speech that investors will be watching closely.
Returns –
| Period | Return |
|---|---|
| YTD | 17.41% |
| 1 Week | 6.60% |
| 1 Month | 4.45% |
| 3 Months | 24.70% |
| 6 Months | 9.65% |
| 1 Year | 36.24% |
About the Nifty IT Index
The Nifty IT Index tracks the performance of Indian IT companies listed on the National Stock Exchange (NSE). It includes 10 companies and is computed using the free float market capitalization method. The index, initially set with a base value of 1000 on January 1, 1996, was revised to a base value of 100 on May 28, 2004. It serves as a benchmark for fund portfolios and is used in the creation of index funds, ETFs, and other structured products.
