IT stocks update: Wipro gains 2.65%, LTIMindtree drops 5.70%, Infosys falls 4.85%, Persistent System down 1.9%

By News Desk Published on October 18, 2024, 11:36 IST Last updated October 18, 2024, 11:39 IST

As of 11:28 AM, the IT sector saw mixed trends, with some stocks making gains while others faced sharp declines. Here’s a snapshot of the top gainers and losers in the IT space:

Top Gainers:

Wipro (NSE: WIPRO): ₹542.75 (+2.65%) Wipro emerged as the top gainer, rising by 2.65%, likely driven by positive sentiment following the company’s Q2 results.
Tata Consultancy Services (NSE: TCS): ₹4,123.75 (+0.36%) TCS showed a modest gain of 0.36%, reflecting stability in the sector’s heavyweight.

Top Losers:

LTIMindtree (NSE: LTIM): ₹6,030.00 (-5.70%) LTIMindtree took the biggest hit, falling 5.70%, possibly reacting to recent results or outlook updates.
Infosys (NSE: INFY): ₹1,872.60 (-4.85%) Infosys saw a significant drop of 4.85%, following a slight miss in its Q2 earnings and market concerns over future growth.
Persistent Systems (NSE: PERSISTENT): ₹5,427.85 (-1.95%) Persistent Systems also faced pressure, down 1.95% amid broader market trends affecting mid-tier IT stocks.
Tech Mahindra (NSE: TECHM): ₹1,677.80 (-1.25%) Tech Mahindra dropped 1.25%, in line with the sector’s weaker performers today.
HCL Technologies (NSE: HCLTECH): ₹1,847.85 (-1.07%) HCL Technologies slid 1.07%, continuing its downward trend despite recent positive developments.
Mphasis (NSE: MPHASIS): ₹3,021.90 (-1.89%) Mphasis dropped by 1.89%, reflecting ongoing market volatility in IT services.
Coforge (NSE: COFORGE): ₹7,167.20 (-1.24%) Coforge fell by 1.24%, adding to the pressure faced by mid-cap IT players.
L&T Technology Services (NSE: LTTS): ₹5,205.00 (-0.72%) LTTS dropped 0.72%, continuing to see minor corrections following previous gains.

With Wipro and TCS holding up gains, and several others like LTIMindtree and Infosys sliding, the IT sector is showcasing a mixed performance in today’s market. Investors are likely responding to the latest quarterly results and growth outlooks of these companies.

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial advice. Investors are advised to perform their own research or consult with a qualified financial advisor before making any investment decisions. The author and the publication are not responsible for any investment actions taken based on this information.