The BSE Focused IT is a sector index that measures the performance of the 14 companies belonging to the Information Technology sector that are also BSE 500 firms.
The index constituents are Coforge, Cyient, HCL Technologies, Infosys, KPIT Technologies, LTIMindtree, Mphasis, Oracle Financial Services Software, Persistent Systems, Tata Consultancy Services (TCS), Tata Elxsi, Tata Technologies, Tech Mahindra and Wipro.
BSE Focused IT index was launched on October 7, 2024. The index has delivered negative 24% returns between January and March.
BSE shares ended 3% up on the NSE today at Rs 3,260 despite weak markets. Nifty plunged 222.25 points or 0.93% to finish at 23,775.10. Meanwhile, Sensex declined 947.22 points or 1.22% to settle at 76,615.68.
The stock also hit a fresh 52-week high of Rs 3,285.70. The capital market stock has seen a stellar run on the D-Street, delivering 76% returns in the past year. These returns came at a time when Indian markets faced multiple headwinds including rich valuations leading to FII outflows, tariff issues, a falling rupee and weak earnings. The latest setback for global markets including India has been the Iran-Israel war.BSE shares are currently trading above their 50-day and 200-day simple moving averages (SMAs) of Rs 2,851 and Rs 2,609, respectively.The multibagger counter has delivered 2,070% returns in the past three years.
Also read: Why FPI interest in India ‘has pretty much died out’: Nithin Kamath points to valuations, taxes and global alternatives
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
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