Indian IT Stocks Gain 1% Amid Weak Market and Weakening Rupee

HCLTech, TCS, and Wipro stocks rose 1% in a weak market as the Indian rupee hit a new low against the US dollar. The buying came after the rupee fell to 96.16, boosting the value of IT companies' dollar-denominated earnings. Analysts say Indian IT companies have been neglected due to weaker growth and limited visibility, but remain attractive due to solid return on equities and disciplined capital allocation.