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Infosys, TCS Stocks Jump 2-3% as Tech Stocks Surge
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Infosys and TCS stocks have jumped 2-3% as the Nifty IT index rallied more than 2% on Monday morning. The surge in tech stocks is attributed to easing US Fed rate-hike fears and a sharp fall in crude oil prices.
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Infosys, TCS Stocks Jump 2-3% as Tech Stocks Surge
Infosys and TCS stocks have jumped 2-3% as the Nifty IT index rallied more than 2% on Monday morning. The surge in tech stocks is attributed to easing US Fed rate-hike fears and a sharp fall in crude oil prices. The Nifty IT index emerged as the best-performing sectoral index on Monday, with several IT stocks leading the gains. The easing of US Fed rate-hike fears has reduced inflation concerns and tempered expectations of a US Fed rate hike this week. Crude oil prices have also fallen sharply, reducing the cost of petrochemical-based raw materials used in manufacturing.
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