Indian IT stocks extended gains for the fourth straight session, with Infosys, Wipro, and other major IT players leading the charge. The rally was driven primarily by Infosys’ ADR (American Depository Receipt) surging to record highs, alongside several other market-friendly developments.
Key Factors Driving the IT Rally
- Infosys ADR Spike: Infosys’ ADR jumped sharply to fresh record levels, triggering buying interest in domestic shares. The company clarified that it is not aware of any material event behind the surge.
- Positive Global Sentiment: Strengthening global markets and steady tech sector performance boosted investor confidence.
- Strong Earnings Expectations: IT companies are expected to report robust Q3 earnings, supporting sectoral momentum.
- Foreign Investor Inflows: Continued inflows from FIIs into Indian tech stocks added liquidity and buoyed prices.
- USD/INR Stability: A relatively stable rupee improved the attractiveness of IT exports, encouraging buying in the sector.
- Sector Rotation: Investors rotated funds into defensive and growth-oriented IT stocks amid volatility in other sectors.
Top Performers
- Infosys: Led gains following ADR surge
- Wipro: Benefited from positive market sentiment
- TCS, HCL Technologies, LTIMindtree: Also advanced on broader IT sector optimism
With IT stocks demonstrating resilience amid global and domestic factors, the sector remains in focus for traders and long-term investors.
Keywords: Infosys ADR surge, Wipro stock price, IT sector rally India, Indian IT shares, ADR impact on Indian markets, TCS, HCL Technologies, LTIMindtree, Nifty IT index updates
