INFY

, TCS, Oracle Financial, Coforge and more: Why IT stocks are soaring? Top reasons

Shares of IT companies on Wednesday (September 10) traded sharply higher for the second straight day after US President Donald Trump exuded confidence that there will be "no difficulty" on a "successful conclusion" of trade talks with India. The Nifty IT index zoomed 3 per cent in intraday trade. In past two sessions, the Nifty IT index has surged 6 per cent. On Tuesday, the IT index had finished 2.76 per cent higher after Infosys announced a share buyback plan. Around 2 PM, the Nifty IT index was up 908 points or 2.58 per cent to trade at 36,165. It was also the top sectoral gainer. All the 10 Nifty IT constituents were trading firmly in the green with Oracle Financial Services being the top gainer, zooming 10 per cent. Persistent Systems, Coforge, Mphasis gained in the range of 4 to 6 per cent. Bellwether stocks TCS and Infosys were up 2 per cent each. On Tuesday, Infosys shares settled 5 per cent higher.