The BSE IT pack was trading in the negative on December 12 afternoon, as index majors such as Infosys, HCL Technologies and Wipro saw a drop in share prices. However, gains in the shares of Tata Consultancy Services (TCS), Mphasis and Tech Mahindra capped the losses for the index.Experts said the rupee's rise against the US dollar could be the reason for the weakness in the IT pack. The Indian currency traded at a month-high of 70.63 after opening higher by 15 paise at 70.69 per dollar against December 11 close of 70.84.Brokerages, however, are mostly positive on the IT pack for the long term.Close "Record deal-wins, sustained deal pipeline momentum and upbeat management commentaries on the demand side strengthen our conviction in the Indian IT’s solid earnings trajectory," said Edelweiss Securities. related news BPCL share price jumps 2% despite rating revision by Moody's, CRISIL Cadila Healthcare gains 4% on launch of … [Read more...] about Rising rupee pulls IT pack down, Infosys, HCL top drags
