IT stocks today, Oct. 23 -- The Nifty IT index surged as much as 3.3% to 33,138.6 on Friday, October 23, as buying interest returned to information technology stocks amid a strong recovery in the sector following encouraging September-quarter earnings. In contrast, benchmark indices remained largely unchanged, rising just 0.05% each.

The IT index has staged a sharp comeback after months of pressure, gaining 17% in October alone following an 11% decline in September. It has advanced 15% over the past month, 14% in three months and 8% in six months. Despite the recovery, the index remains down 10% over the past year. It has, however, recovered around 29% from its July low of 25,699.10 .

Tata Consultancy Services (TCS) led Friday's gains, ...