Technical charts suggest that the IT index may gain another 5%, with heavyweights Infosys, TCS and HCL Technologies possibly rallying up to 17%. Wipro and Tech Mahindra, however, may see tepid trends.
Technically, Persistent Systems seems to be favourably placed among these 3 IT peers, with the stock now seen quoting above its 200-DMA for the first time in nearly three months.
However, thus far in the calendar year 2025, the IT index has underperformed the market by falling 20 per cent, as against 4.7 per cent rise in the BSE Sensex
Infosys, TCS, HCL Technologies and Tech Mahindra are scheduled to announce Q2FY26 results in the next 10 days; here's a technical check on these 4 IT shares.
IT stocks such as Infosys, TCS and 3 others could see limited downside from current levels, as they are trading above key support levels, backed by positive cues from momentum oscillators, show charts
Meanwhile, four IT companies combined - TCS, Infosys, HCL Technologies and Tech Mahindra - have made a dent of ₹15,321 crore in LIC's portfolio thus far in July
Growth trends across the India IT sector continue to diverge. While Tier-I companies are likely to post flat to marginal constant currency revenue movement, mid-tier firms are expected to outperform.
Among the sectoral indices on Nifty, the IT index settled with gains of 4.34 per cent, with all the 10 constituent stocks posting gains in the range of 2.73 per cent to 7.74 per cent