Nifty IT hits life high, tops 46,000; why are IT stocks are in demand?

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Nifty IT hits life high, tops 46,000; why are IT stocks are in demand? - Business Standard

Quick Summary:

The rupee fell 2 paise to near all-time low of 84.

Among others, around 10:49 AM, Coforge shares were up over 3 per cent, Tech Mahindra was up over 2 per cent, LTIMindtree, and Persistent Systems shares were up over 1 per cent.

Meanwhile, in the US markets, the tech-heavy Nasdaq hit an all time high and breached the 20,000 level for the first time in Wednesday's trade also boosted sentiments in the domestic IT space.