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IT Stocks Surge Amid Record-Low Rupee, Gaining 1% in Nifty Index
ByAinvest
Wednesday, Dec 3, 2025 1:25 am ET1min read
The Nifty IT index rose 1% in Wednesday's trade, led by Tata Consultancy Services and Wipro, which gained 2% each. The Indian rupee hit a record low of 90.28 against the US dollar, benefiting IT stocks as they earn a significant portion of their revenue in dollars. The sector's Q2 earnings saw a positive surprise in EBIT margins due to the rupee's depreciation, but underlying pressure points exist.
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