India’s Nifty IT Index rose 2% on November 12, outperforming broader markets. Gains in Infosys, TCS, and Tech Mahindra were driven by optimism over India–US trade talks and easing global concerns. Exit poll results and macro signals further boosted sentiment. Analysts expect continued strength in export-driven tech stocks.
India’s Nifty IT Index rallied strongly on Wednesday, rising 2% to lead sectoral gains across Dalal Street. The surge was driven by renewed optimism over a potential India–US trade deal, easing global concerns, and strong buying in heavyweight tech stocks.
Key highlights:
-
The Nifty IT Index climbed 2%, outperforming broader indices like the Nifty 50 and Sensex, which were up 0.75% and 0.7% respectively.
-
Top gainers included Infosys, Tech Mahindra, TCS, and HCL Tech, each rising between 1.5% and 2.3%.
-
The rally was fueled by positive global cues, including signs of a resolution to the US government shutdown and expectations of reduced tariffs on Indian exports.
-
Investor sentiment improved following exit polls indicating a likely win for the ruling NDA alliance, boosting confidence in policy continuity.
-
Broader markets also gained, with midcap and smallcap indices up 0.4% and 0.7%, respectively.
Analysts believe the IT sector could continue to benefit from export-linked momentum and favorable macro signals, especially if trade negotiations yield further clarity.
Sources: News18, Moneycontrol, The Hindu Business Line, Economic Times