IT stocks outperformed a choppy broader market on Thursday, extending their rally for a second consecutive session. While the Sensex and Nifty swung sharply through the day, the Nifty IT index held strong, gaining about 1.5% by afternoon after rising over 1% the previous day—up more than 2% across two sessions. All ten components of the index traded in the green. Coforge led with a 3.19% jump, followed by Persistent Systems, which climbed nearly 2%.
TCS traded at ₹3,230.40 on the NSE, up 1.58%—its highest level in roughly three months—after reports that OpenAI is in advanced talks with the company to build AI compute infrastructure in India and co-create agentic AI tools for enterprises. Other majors like Mphasis, Tech Mahindra, HCL Tech, Wipro, and Infosys also gained up to 2%.
Three factors supported the sector: a sharply weaker rupee, which boosts IT exporters; expectations of a US Federal Reserve rate cut supporting tech spending; and upbeat brokerage commentary. Motilal Oswal noted the sector may be nearing a turnaround, forecasting stronger growth through FY27–FY28 as enterprises scale AI adoption, even as valuations stay near decade lows.
