India's IT stocks climb as moderate US inflation eases Fed rate hike fears

** India's information technology index .NIFTYIT rises 2% to 28,289.85

** Nine of 10 index constituents rise; Mphasis MBFL.NS and Coforge COFO.NS lead with 4.5% and 3.5% gains, respectively

** Sector majors Tata Consultancy Services TCS.NS and Infosys INFY.NS jump 1.7% and 2.4%, respectively

** US personal consumption expenditures price index rose 0.3% in August, below expected 0.4%

** Lower-than-expected increase likely to reduce urgency for the Federal Reserve to raise interest rates again in October

** A higher US interest rate hurts IT companies as it discourages discretionary spending in their key market

** YTD, IT index down 25.5% vs benchmark Nifty 50's .NSEI 13.7% drop