Indian IT majors including Infosys, TCS, Mphasis, LTIMindtree, HCL Tech, and Coforge jumped between 2%–4% in early trade after global technology stocks rallied overnight. The rebound followed Anthropic’s comments reassuring investors about AI integration with software providers, easing disruption fears and boosting confidence across the IT sector.
Indian IT stocks staged a sharp rebound, with the Nifty IT index gaining over 2.8%, making it the top-performing sector on the NSE. The rally was triggered by overnight gains in US technology stocks after Anthropic announced partnerships with SaaS companies like Salesforce, signaling collaboration rather than displacement in the AI ecosystem.
Key Highlights
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Stock performance: Infosys, TCS, Mphasis, LTIMindtree, HCL Tech, and Coforge rose 2%–4%.
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Sector leader: Nifty IT index surged 2.8%, outperforming broader benchmarks.
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Global cues: Nasdaq 100 rose over 1% as tech stocks rallied.
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Anthropic reassurance: Comments eased investor concerns about AI disrupting software providers.
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Market sentiment: Gains helped recoup losses from the previous session’s heavy sell-off.
Analysts note that while the rebound reflects improved sentiment, volatility may persist as investors weigh AI’s long-term impact on IT services.
Sources: Mint, CNBC-TV18, Moneycontrol