Business Standard

BSE IT INDEX TROUNCING NASDAQ THIS YEAR

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India’s technology stock gauge is poised to outperform its US peer by the most in 12 years as demand for automation and easy money at home boosts shares. The S&P BSE Informatio­n Technology Index has gained more than 48 per cent this year, trouncing the Nasdaq 100’s performanc­e by about 31 percentage points and heading for the biggest annual beat since 2009. The Indian measure — where Asia’s biggest software exporter Tata Consultanc­y Services and outsourcin­g giant Infosys make up more than half of the weighting — has benefited from global demand for automation and digital services. The Reserve Bank of India’s benign monetary policy stance and a selloff in China’s tech shares are also aiding flows into the nation’s $3.5 trillion stock market.

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