IT stocks such as L&T Technology Services Ltd (LTTS), Coforge, Persistent Systems, Infosys, Tata Consultancy Services (TCS), Tech Mahindra and Wipro advanced up to 4 per cent in Thursday's trade, as the rupee tumbled to fresh record lows, thanks to mixed economic data and a lack of RBI intervention. Advertisement

A weaker rupee boosts India’s services exports—IT, software, and business-process outsourcing—by increasing the rupee value of dollars earned abroad, making revenues more profitable domestically. Stocks also gained as despite the benchmark indices hitting record highs, the sector valuations are marginally above the historical averages.

LTTS climbed 4 per cent to hit a high of Rs 4,687.05. Coforge Ltd, Mphasis and Persistent Systems Ltd, HCL Technologies and TCS added 2 per cen

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