By Debdeep Gupta | 12 Dec, 2024
Infosys, TechM, Wipro shares at 52-week high as Nifty IT soars past 46,000 on Fed rate cut hopes
The Indian IT stocks defied the negative market trend on December 12 with the Nifty IT index soaring past 46,000 for the first time post-in-line U.S. inflation data, which reinforced expectations of a Federal Reserve rate cut next week.A US Fed cut cope is a positive development for India's information technology companies, which earn a significant share of their revenue from the United States."Po...