Bulls strike! Sensex zooms 1,100 pts intraday, Nifty at 22,950; key reasons
BSE left its position unchanged.
· Business Standard Mkts
VK Vijayakumar said that the strength in the IT stocks follows the results of HCL Tech and the optimism surrounding that will hold the IT index strong.
The analysis
Against that, the stock is +3.1% on the day at ₹1,368.00, and has returned +16.9% over three months. It sits 21% below its 52-week high. The it sector has moved +3.0% over the same period, so HCL Technologies is running 13.9 points ahead of its peers.
For HCL Technologies, the question is how much of this is already reflected in the price and how much re-rates the it peer set alongside it.
Why it matters
- With BSE involved, this carries a regulatory dimension that can outlast the immediate market reaction.
Market context
- The company directly in focus is HCLTECH.
- Sector exposure: IT.
In this story
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