Sensex goes up as IT stocks perform well

Sensex goes up as IT stocks perform wellIndia's benchmark index- Sensex has been in the green because of the good performance by the IT stocks during the day. They altogether rallied by 1-4 per cent on the BSE.

It was the result of strong demand and was fuelled by good performance by Cognizant.

India's largest software exporter Tata Consultancy Services surged by 4.43 per cent and was followed by Wipro that went up by 3.96 per cent. During the whole day, TCS jumped up by as much as 4.54 per cent to end at its year-high of Rs. 871.

Infosys and HCL technologies also moved up in the green zone. While Infosys went up by 2.99 per cent HCL was up by 2.94 per cent.

Because of this, the BSE IT index higher by 178 points to settle at 5,640.99 -- the best gainer in the 13 sectoral indices.

The cumulative effect was that Sensex went to its 30-month high and closed at 18,217.44, up 102.6 points.

Experts believe that Cogniznat's good performance triggered the whole positive emotion for IT stocks in the market. Weak rupee also made sure that IT firms earn more.