On Thursday, IT stocks like Infosys, Wipro, and Tech Mahindra are among the top gainers on the Nifty 50. The Nifty IT index is also among the top sectoral gainers after the US Federal Reserve’s decision to leave interest rates steady at 5.25% has stabilized global markets.
The US Fed’s unchanged rate will benefit India as it stabilizes foreign investment, supports the rupee, and maintains lower borrowing costs. This encourages economic growth, reduces inflationary pressures, and strengthens the financial markets, fostering a favorable environment for investors and businesses in India.
On Wednesday, US consumer Inflation data was published which is unlikely to swing the Federal Reserve’s plans to leave its key lending rate unchanged.
Moreover, the annual consumer price index (CPI) came in at 3.3 percent in May, down 0.1 percent point from April. Despite the small decline, inflation remains firmly above the Fed’s long-term target of 2 percent, raising the chances that the US central bank will vote to keep rates at a 23-year high of between 5.25 and 5.50 percent.
Here are the 6 IT stocks that have positive movement after the US Fed rate unchanged. Mphasis Ltd
With a market capitalization of Rs 46,140.66 crore, the shares were trading at Rs 2,439.15 per share, increasing around 1.69 percent as compared to the previous closing price of Rs 2,398,65 apiece.
LTIMindtree Ltd
With a market capitalization of Rs 1.49 lakh crore, the shares were trading at Rs 5,055.80 per share, increasing around 2.11 percent as compared to the previous closing price of Rs 4,951.20 apiece.
HCL Technologies Ltd
With a market capitalization of Rs 3.92 lakh crore, the shares were trading at Rs 1,448.00 per share, increasing around 1 percent as compared to the previous closing price of Rs 1436.65 apiece.
Tech Mahindra Ltd
With a market capitalization of Rs 1.36 lakh crore, the shares were trading at Rs 1,393.50 per share, increasing around 2 percent as compared to the previous closing price of Rs 1,370.30 apiece.
Infosys Ltd
With a market capitalization of Rs 6.21 lakh crore, the shares were trading at Rs 1,495.95 per share, increasing around 1 percent as compared to the previous closing price of Rs 1,485.00 apiece.
Wipro Ltd
With a market capitalization of Rs 2.51 lakh crore, the shares were trading at Rs 481.90 per share, increasing around 1.05 percent as compared to the previous closing price of Rs 476.90 apiece.
Written by:- Abhishek Singh
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