Infosys, Tech Mahindra, and Wipro Shares Hit 52-Week High as Nifty IT Surges Past 46,000 on Fed Rate Cut Hopes

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Shares of major IT companies including Infosys, Tech Mahindra (TechM), and Wipro reached their highest levels in the past 52 weeks, as the Nifty IT index soared above the 46,000 mark. This impressive rally was fueled by growing expectations that the U.S. Federal Reserve may cut interest rates, boosting investor sentiment in the technology sector.



The surge in these stocks is a reflection of the broader optimism surrounding the potential for easier monetary policy from the Fed. The rate cut hopes have sparked renewed interest in growth-oriented sectors, including IT, which is highly sensitive to global interest rates and economic conditions.

Infosys saw its stock price climb sharply, breaking previous records, while Tech Mahindra and Wipro also enjoyed significant gains. The overall Nifty IT index, which represents a basket of India's leading technology companies, posted strong growth, surpassing the crucial 46,000-point level, marking a key milestone.

Analysts suggest that the tech sector's resilience amidst global uncertainties, combined with a favorable outlook for U.S. monetary policy, is driving the strong performance of these stocks. Investors are also betting on sustained growth in the IT export segment, bolstered by the robust demand for digital services worldwide.

As global markets react positively to the Fed’s potential actions, India’s IT stocks remain at the forefront of the rally, with analysts forecasting further upside for the sector if the rate cuts materialize.

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