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IT index rises 2% after six-day decline as Infosys and HCL Tech rally on US policy optimism
IT index rose nearly 2% after a six-day losing streak, led by gains in Infosys and HCL Tech on US shutdown optimism.
India’s Nifty IT index rebounded nearly 2 percent after six consecutive sessions of losses, supported by strong buying in Infosys, HCL Technologies, and Tech Mahindra. Infosys gained 3 percent while HCL Tech rose 2.8 percent amid improved risk appetite on hopes of an imminent US government shutdown resolution. Broader sentiment across technology counters strengthened as rupee stability and firm Nasdaq futures signaled renewed demand for export-driven sectors.
The uptrend helped the sector outperform benchmark indices and recover weekly losses.