IT index records sharpest intraday rally in over 4 months; up 9% in 3 days

IT stocks on Friday, June 7: Information technology (IT) shares continued at their upward movement for a third straight day, with the Nifty IT index, gaining 3.5 per cent in Friday’s intraday trade, and recording its sharpest rally in the past four months. Earlier, on January 15, 2024, the index had surged 3.9 per cent in the intraday deal.

Shares of IT companies rallied up to 6 per cent after the corporate announcements from Wipro, Mastek, Persistent Systems, and Mphasis boosted sentiment.