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Indian IT stocks rally: Why TCS, Infosys, Wipro are rising as global AI stocks plunge
Indian IT sector stocks after declining for the most part of this year have been rallying strongly over the last few sessions. They extended their rally on Wednesday, with shares of Infosys, TCS, HCLTech, Wipro, Coforge and Tech Mahindra climbing as much as 5%, even as semiconductor stocks worldwide came under intense selling pressure amid mounting concerns over the scale of artificial intelligence-related spending by major technology companies.
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thehindubusinessline.com
Jefferies raises Indian IT to neutral as AI trade pauses
India’s IT services sector has fallen 25% year-to-date, with the top four IT majors—TCS, Infosys, HCLTech and Wipro—down around 35-50 per cent from their past two-year peaks.
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newsbytesapp.com
What's driving the rally in Indian IT stocks today
Infosys and TCS stocks rose 2-3% as easing US Fed rate-hike fears boosted tech shares, with the Nifty IT index gaining over 2% on reduced inflation concerns.
