Revenue from software services exports will rise 7 percent-9 percent in constant currency terms in the fiscal year to March 2019, the National Association of Software and Services Companies forecast, as the industry continues to recover from what has been a tough year. The Nifty IT index added 2 percent with Tech Mahindra climbing about 4 percent and HCL Technologies rising 3 percent.
"IT stocks and ITC have given stability to markets at this level... Markets could remain range-bound today," said Madhumita Ghosh, head corporate solutions, Tasmac Global Education. Among other top gainers, ITC rose as much as 1.4 percent after three straight sessions of declines. Meanwhile, selloff continued in state-run lenders after a fraud at Punjab National Bank (PNB) shook the industry last week. The Nifty PSU bank index dropped nearly 1 percent and has declined 10 percent since last Wednesday.