The Nifty IT index advanced 2.43% to 35,143.15 on Tuesday, snapping a five-day losing streak as investors engaged in value buying after recent declines.
The index dropped 4% over the past five sessions amid tariff uncertainties and global concerns.Infosys (up 4.39%), Coforge (up 2.62%), Wipro (up 2.25%), Mphasis (up 1.92%), Tech Mahindra (up 1.83%), HCL Technologies (up 1.50%), Persistent Systems (up 1.39%), LTIMindtree (up 1%), Tata Consultancy Services (up 0.89%) and Oracle Financial Services Software (up 0.81%) led the gains today.
The rebound was driven by strength in Infosys, which announced that its board will meet on 11 September 2025 to consider a share buyback proposal. Expectations of a potential US Federal Reserve rate cut also supported sentiment.
Analysts, however, cautioned that foreign investor flows remain muted, limiting prospects of a sustained rally. They added that while local policy support offers near-term relief, earnings outlook for the sector remains subdued given slower deal wins and muted demand from global clients.
The US Federal Reserve is scheduled to meet on September 16-17, with markets increasingly expecting a 50-basis point rate cut. A reduction in rates could boost discretionary spending in the US, which remains the largest revenue contributor for Indian IT companies.
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