Indian IT stocks rise to 8-week high on Fed rate-cut boost

** The Nifty IT index .NIFTYIT rises 1.3% and was the top percentage gainer among 16 major sub-indexes

** The index hits its highest point since late-July

** IT stocks boost gains in blue-chip Nifty 50 .NSEI, which is up 0.4% .BO

** The U.S. Federal Reserve cut interest rates by a quarter point on Wednesday and indicated that more cuts would follow

** Indian IT firms earn a significant share of their revenue from the United States

** Infosys INFY.NS and LTIMindtree LTIM.NS led gains in the index, up 1.9% and 2.8%, respectively

** All 10 stocks in the index were trading in the green

** NIFTYIT down ~15% so far in 2025 vs a 7.5% rise in Nifty 50