** Australian IT stocks .AXIJ jump as much as 1.4% to record high of 2,776.5 points

** Benchmark S&P/ASX 200 .AXJO falls 0.5%

** Sector majors Xero XRO.AX and WiseTech Global WTC.AX up 1.6% and 2.5%, respectively

** Australian tech stocks track broader moves in the U.S. market as local IT firms earn from ops in the North American market

** The S&P 500 closed with its biggest weekly percentage gain in a year on Friday as Donald Trump's election victory and a possible Republican sweep in Congress fuelled expectations of favorable business policies

** AXIJ up 49.3% YTD, as of last close

(Reporting by Namrata Verma in Bengaluru)

((namrata.verma@thomsonreuters.com))