Coforge, Infosys to TCS: IT stocks rally as US software stocks outperform SOX last night; Nifty IT index jumps around 3%

Indian IT stocks rallied with the Nifty IT index jumping around 3 percent to 29,535.20, extending gains for the second straight session. The rally was driven by strong overnight performance in US software and IT services stocks such as Accenture (up 4.8 percent), EPAM Systems (up 4.8 percent), Gartner (up 5 percent), Globant (up 4 percent) and Cognizant (up 3.5 percent), which outperformed the Philadelphia Semiconductor Index. All Nifty IT constituents were in the green, with Coforge surging around 7 percent and Mphasis rising about 5 percent.