Nifty IT rises 1% as Infosys, TCS lead post Accenture's upbeat Q1 earnings

The Nifty IT index rose as much as 1.09 percent to 39,054.3 so far today. Most constituents of the Nifty IT were trading in green.

Infosys, Tata Consultancy Services (TCS) and Wipro shares were leading the gains in the Nifty IT index after Accenture upbeat results and guidance supported a better outlook for the sector. The Nifty IT index rose as much as 1.09 percent to 39,054.3 so far today.

 

Infosys share price gained 1.73 per cent to the day’s high of ₹1,654.90 apiece and became the top gainer among its peers. TCS share price rose as much as 1.10 per cent to ₹3,317 so far on Friday. Wipro stock was up 1.19 per cent at ₹267. 

The Nifty IT index has extended gains to the third trading session on Friday. The market-cap of the IT stocks stood at ₹15.16 trillion as of 9:53 a.m, according to data on National Stock Exchange.  

 

Howeer, on a year-to-date basis, the Nifty IT index has slumped 10.63 per cent. The index seems to be on recovery path, and has gained 26.3 per cent from its 52-week low of 30,918.50 hit on April 7. The Nifty IT had registered a 52-week high of 45,647 on December 20, 2024.

 

Most constituents of the Nifty IT were trading in green. As of 10:26 a.m., 7 stocks advanced while 3 declined. Tech Mahindra, LTIMindtree, and  HCL Technologies  were the top losers in the index.   FOLLOW LATEST STOCK MARKET UPDATES LIVE

Why are IT stocks rising today?

 

IT stocks on the National Stock Exchange advanced after Accenture reported upbeat results for the first quarter of the financial year 2026. The company has retained its guidance for revenue guidance for the full year. 

 

Accenture reported that its revenue grew 5 percent on the year to $18.7 billion in the first quarter of the current financial year in constant currency terms, according to Nomura. The IT company reported 4 per cent organic growth. Financial services, which expanded 12 per cent, led growth among verticals, according to the brokerage.   ALSO READ | Accenture Q1 results signal steady outlook for Indian IT amid muted demand

 

Post Accenture results, brokerages and analysts said that the outlook for Indian IT companies will likely have a steady operating environment in the near term. Resilience in financial services-led demand, and improving outsourcing momentum will support the environment even though discretionary spending will likely remain muted. 

 

Demand conditions for Indian IT companies will likely remain unchanged from the previous financial year, Accenture management said. Macroeconomic conditions are also likely to remain unchanged, which means that there is unlikely to be any strong catalyst for discretionary spending revival, Nomura added.