Nifty IT crosses 45,000 for first time; HCL and four others hit 52-week highs

Indian IT stocks continued their winning streak for the fifth straight session on Thursday, December 5, boosted by Federal Reserve Chair Jerome Powell’s remarks at the New York Times DealBook Summit, where he emphasised the resilience of the US economy, which contributes 60-70 per cent of revenue for IT companies.

Riding on this sentiment, the Nifty IT index surged 2.4 per cent in intraday trade, crossing the 45,000 mark for the first time to hit a fresh all-time high of 45,027, surpassing its previous record of 44,330 points set in late November. The index ended the session at a record closing high of 44,806 points, gaining 1.95 per cent.