Technology shares in demand; Nifty IT index rises 2%, TCS nears record high

Shares of information technology (IT) companies were in demand and trading up to 5 per cent higher on the National Stock Exchange (NSE) in Friday’s intra-day trade as Nasdaq rose more than 2 per cent on Thursday after July the US retail sales data signalled resilient consumer spending, allaying fears of an imminent recession in the world’s largest economy.