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NEW DELHI: Most IT stocks were trading with gains in the afternoon trade on Monday.
IT stocks rose after rupee failed to sustain the below 70-level against the US dollar.
The rupee on Monday opened 15 paise higher at 69.76 against the US dollar, but soon pared gains to cross the 70-mark.
At the time of writing this report, rupee was trading at 70.03, up by 12 paise.
The Nifty IT index was trading 1.12 per cent up at 15,430.25 around 1 pm, with Mindtree (up 2.72 per cent), Infosys (up 1.99 per cent) and Tech Mahindra (up 1.64 per cent) as the top gainers.
Infibeam Avenues (up 1.37 per cent), Tata Elxsi (up 0.91 per cent), Wipro (up 0.70 per cent), Tata Consultancy Services (up 0.59 per cent), HCL Technologies (up 0.43 per cent) and KPIT Technologies (up 0.15 per cent) too were in the positive territory.
Sensex and Nifty were trading higher amid positive global cues and healthy gains in banking, metal and FMCG stocks.
The Nifty50 index was up 122 points at 11,679.20, while the BSE Sensex was up 424.72 points at 38676.52.
Among the 50 stocks in the Nifty index, 45 were trading in the green, while 5 were in the red.
Over 50 stocks, including Reliance Industries, Axis Bank, Aditya Birla Fashion and Retail, AstraZeneca Pharma India, Bajaj Finance and Birla Cable, touched 52-week highs on NSE.
However, over 45 stocks, including Bafna Pharmaceuticals, Alchemist, AYM Syntex, Bombay Rayon Fashions and D B Realty, hit 52-week lows.
