Led by Wipro, IT stocks on Monday gained as much as 3 per cent in early trade amid the
rupee plunging to its life-time low of 57.77 as a stronger dollar boosts the sales of software firms in rupee terms.
Shares of Wipro rose by 2.68 per cent, while TCS was up 1.42 per cent and Infosys gained 1.34 per cent.
Among others, Hexaware Tech went up by 1.96 per cent and HCL Tech (0.97 per cent).
Led by gains in these stocks, the BSE IT index was trading higher by 0.92 per cent to 6,194.47 and was the top gainer among the 13 sectoral indices during the morning trade.
Fall in the rupee versus the US currency is broadly seen as a positive factor for exportfocused IT sector.
Analysts said large IT companies benefit from a weaker rupee, as it positively impacts their profit margins.
Big IT companies earn a major chunk of their revenues in dollar from their US clients.
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