IT Sector Rebound: Nifty IT Index Hits Record High as Mutual Funds See Strong Returns

The Nifty IT index reached a record high of 44,085 on November 26, 2024, driven by robust earnings and increased demand despite past challenges. IT sector mutual funds saw average returns of 40% over the past year, outperforming the Nifty 50 TRI. While near-term pressures like wage hikes and geopolitical risks remain, the sector’s long-term outlook is strong due to global IT spending and India’s leadership in technology services.