Despite the suspension of eight major IT companies, such as TCS, Infosys, Wipro, and HCLTech, under the PERM program related to green cards, the Indian stock market showed growth in the IT sector's stocks on Friday, despite actions by Donald Trump's administration in the USA. Trading on the Indian stock market started confidently on October 9th.
Immediately after the market opened, the Sensex index rose by 180 points, and the Nifty increased by 80 points. Furthermore, the rupee strengthened against the dollar, opening 4 paise stronger at 96.74 per dollar, compared to 96.78 per dollar when trading closed on Thursday.
During the initial trading period, shares of leading IT companies, including TCS, Infosys, and HCLTech, traded in the green zone. At the start of trading, Infosys shares rose by 2.62%, TCS shares showed a growth of 3.39%, HCL shares increased by 2.53%, and Wipro shares by 2.47%.
Parallel to the actions in the USA, there was also mixed movement in the shares of IT companies on foreign markets. On Nasdaq, Microsoft shares fell by 1.35%, while Cognizant shares showed a growth of 5.15%. On the Paris Stock Exchange, Capgemini shares traded with a slight increase of 0.045%, and on Nasdaq, Adobe shares also rose by 3.56%.