In Nifty 50 IT sector shares at five year high
IT major Stocks such as Tata Consultancy Services, Infosys and Wipro have turned out to be the favourite defensive bets for equity investors worried about the economic uncertainty after the Covid-19 lockdown.
The combined weight of IT companies in the benchmark Nifty 50 index is now at a five-year high of 15 per cent as these companies continue to outperform the broader market.
In comparison, they accounted for 12 per cent of the index at the end of 2019 and 12 per cent in December 2018.
The combined market capitalisation of five IT companies, which are part of the index, is more than 6 per cent since the beginning of 2020.