Explained - Decoding the 11% rally on the Nifty IT index in five sessions

Despite this five-day recovery, shares of Wipro and Infosys are down 34% and 31% so far on a year-to-date basis, while those of LTM and TCS are down 29% and 26% respectively. The recent surge seen in Tech Mahindra has taken the stock into positive territory on a year-to-date basis.