New Delhi, Oct. 1 -- Most IT stocks traded higher in intraday trade on Thursday, 1 October, defying weak market sentiment. Stocks such as Mphasis (up 5%), Coforge (up 4%), Infosys (up 3%), HCL Technologies (up 2%), TCS (up 2%), Tech Mahindra (up 2%), and Wipro (up 1.5%) rose between 1-5% intraday, driving their sectoral index Nifty IT up over 2%, while benchmark Nifty 50 declined by more than 1% during the session.

The Nifty IT index is in the green for the second consecutive session amid a rise in the US dollar and the rupee's weakness.

The dollar index rose to 101.71 on Thursday, while the Indian rupee traded near the 96 per dollar mark.

Since Indian IT companies earn a major chunk of their revenues in the US dollar, a weaker rupee a...