Mumbai, Oct. 23 -- The trade deal agreement could ease tariffs and boost exports for Indian technology firms.

The Nifty IT index rose 2.64% to 36,230.15. Infosys (up 4.40%), HCL Technologies (up 3.19%), TCS (up 2.41%), Mphasis (up 2.20%), Wipro (up 1.74%), LTIMindtree (up 1.47%), Tech Mahindra (up 1.26%), Persistent Systems (up 1.21%), and Coforge (up 1.10%) surged.

Infosys jumped after its promoters decided not to participate in the Rs 18,000 crore share buyback. The move signals confidence in the company's prospects and improves the buyback entitlement ratio for small investors.

Reports said India and the US are in advanced talks to reduce tariffs on Indian exports to 15-16% from 50%. The IT sector, which earns a large share of its r...