Nifty IT Stocks

In the past one month, TCS, Infosys, Tech Mahindra, HCL Technologies, LTIMindtree, Persistent Systems and L&T Technology Services have rallied between 9 per cent and 15 per cent.

Valuations across the sector remain attractive, but Nomura stays selective. It has rolled forward its valuation framework to H1FY28 while maintaining target multiples.

Analysts attributed the up move to a pullback rally after sharp declines in past sessions. The index is currently 22.72% below its 52-week high of 46,088.90 and is down about 14.8% so far this year.

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.

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Since September 30, the Nifty IT index has outperformed the market by surging 6.4 pee cent as compared to a 4-per cent rise in the Nifty 50 index

Analysts remain mixed on IT stocks' outlook, with some cautioning that the optimism around the technology pack could be short-lived

HCL Tech shares gained 3 per cent after it partnered with UAE-based DIB to accelerate AI adoption across its ecosystem

On the bourses, LTIMindtree share rose as much as 2.32 per cent to hit an intraday high of 5750.60 per share.

Wipro's share price fell after its net profit was up 1.15 per cent compared to the same quarter last year

HCL Tech raised the lower end of its guidance and now expects to grow between 4 per cent and 5 per cent on a CC basis for the full year

Analysts forecast a sequential decline in Wipro's Ebit margin despite rupee depreciation, mainly due to upfront costs linked to large deals, analysts said

Investor focus is expected on TechM's deal-win momentum, growth in financial services, H-1B visa risks, deal pipeline health, revenue retention, and GenAI's impact

BFSI and Hi-tech segments are expected to perform better for HCL Tech, while manufacturing is likely to remain under pressure

TCS is scheduled to announce its financial results for the September quarter of the financial year 2025-26 (Q2-FY26) on October 9

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.

Accenture Q4FY25 results near top of guidance, but analysts remain cautious on Indian IT stocks amid macro uncertainty, weak discretionary spending, and H-1B risks

The BSE IT index also fell 3.5 per cent in the intraday trade. Thus far in calendar year 2025, the BSE IT index has underperformed the market by sliding 19 per cent

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

Another silver lining for the companies and the markets, analysts said, is the falling dependence on the H-1B visa in the last few years.