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IT stocks have bounced back in recent months, with the Nifty IT index hitting a fresh 52-week high on September 15. The upswing in sentiment can be attributed to improved order books of companies, stable US inflation, reduced fears of a US recession, and consolidation deals within IT companies.
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Coal India, NTPC, BPCL, Tata Motors and L&T were among the major Nifty gainers. Losers included UPL, Eicher Motors, Apollo Hospitals, ITC and UltraTech Cement
Any declines towards 44,500 is a buying opportunity for Bank Nifty. So, both of the indices are looking quite robust and on the way towards making fresh lifetime high.
Among sectors, except FMCG and pharma, all indices traded in the green. Bank, capital goods, PSU Bank, power and realty were up 1-2 percent