Software stocks trades higher on weakness in Rupee

Software stocks are trading with traction tracing weakness in Indian rupee as against US dollar. A weak rupee boosts revenue of IT firms in rupee terms as the sector derives a huge amount of revenue from exports.

At present the rupee is trading weaker by 0.10 points to trade at 55.78 per dollar against previous close of 55.68 per dollar.

Infosys is currently trading at Rs. 2499.05, up by 27.85 points or 1.13% from its previous closing of Rs. 2471.20 on the BSE. The scrip opened at Rs. 2469.00 and has touched a high and low of Rs. 2501.00 and Rs. 2459.75 respectively. So far 73217 shares were traded on the counter.

Tech Mahindra is currently trading at Rs. 672.95, up by 6.45 points or 0.97% from its previous closing of Rs. 666.50 on the BSE. The scrip opened at Rs. 670.90 and has touched a high and low of Rs. 677.00 and Rs. 662.10 respectively. So far 9422 shares were traded on the counter.

Tata Consultancy Services is currently trading at Rs. 1254.00, up by 2.85 points or 0.23% from its previous closing of Rs. 1251.15 on the BSE. The scrip opened at Rs. 1247.00 and has touched a high and low of Rs. 1260.00 and Rs. 1240.05 respectively. So far 18837 shares were traded on the counter.