The Nifty IT index hit a record high on Tuesday, rising 1.4% to 44,240, with all 10 constituents in the positive. Infosys led with a 2.4% increase, followed by gains in other major stocks. Despite broader market selling in November, the index has risen over 9% this month and 23.7% year-to-date, outperforming the Nifty 50.
Banks unlikely to reduce deposit rates despite RBI easing
Following the latest repo rate decrease, bankers foresee only slight adjustments to deposit rates. The landscape, characterized by sluggish savings yields and elevated credit-deposit ratios,