Nifty IT Stocks

The Nifty IT index needs to breakout above 38,500 resistance, for a likely 13 per cent rally, says Kunal Shah, Senior Technical Analyst at Mirae Asset ShareKhan.

IT companies are projected to report subdued growth in the third quarter of FY26, as ongoing pressure on discretionary spending continues to impact the sector

Analysts believe that valuation comfort coupled anticipated revival in earnings and possible reversal of AI trade offer a better risk-reward scenario for Indian IT firms.

A federal judge, on Tuesday, said the Trump administration can move ahead with a $100,000 fee on new H-1B visa applications

Since October 2025, IT index has rallied 17 per cent, as compared to 6 per cent rise in the Nifty 50.

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.

Nomura, which termed Coforge its "top pick in the mid-cap India IT services sector," said the company is banking on a solution-led sales strategy to maintain its growth trajectory.

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