US Federal Reserve cut interest rates by 25 basis points and pencilled in two more reductions this year
Infosys will repurchase 100 million shares at an average price of ₹1,800 per share, a 19.3 per cent premium to its Thursday closing share price
IT stocks rose sharply with Infosys surging 5% on its buyback plan, lifting the Nifty IT index 2.8%, as Fed rate cut speculation and rupee weakness boosted sector sentiment
Infosys stock is seen trading with a weak bias, below the key moving averages on the daily and weekly charts; Key support for the stock stands at ₹1,348. What to expect?
Nuvama, in a recent report, upgraded the IT sector to 'Overweight' from 'Underweight', noting that the space has largely become a trading and relative valuation call
The Nifty IT index has fallen by 18.1 per cent so far this year, the worst among key sectors. During the same period, Nifty has risen by 3.8 per cent
However, thus far in the calendar year 2025, Nifty IT index has underperformed the market by falling 18 per cent, as against 5.5 per cent rally in Nifty 50.
TCS on Monday was seen trading below the monthly super trend line support for the first time since July 2009. The next stop could be the 100-MMA, hints the technical charts.
Backed by large deals, Infosys raised the lower end of its guidance to 1 per cent from nil growth it had guided a quarter earlier. Analysts reiterated their bullish calls
Infosys shares fell despite analysts remaining positive after the company reported in-line first-quarter earnings
Around 11:10 AM, the Persistent Systems' share was trading 8.24 per cent lower at ₹5,143.50. In comparison, BSE Sensex was down 0.26 per cent at 82,514.88 levels.
Infosys will report its earnings for the first quarter ended June on Wednesday, with its profit likely to fall 4 per cent sequentially
Wipro shares rose 4 per cent after its first-quarter earnings met expectations. However, analysts remained cautious on margin outlook
While LTIMindtree's top line marginally missed Bloomberg estimates of ₹9,855.4 crore, the bottom line outperformed expectations pegged at ₹1,194 crore.
Broader markets were also trading in red. The Nifty Midcap 100 was trading at 58,749, down by 0.69 per cent.
TCS, Infosys, Wipro, LTIMindtree, Tech Mahindra, HCL Technologies and Persistent Systems are down in the range of 1% to 2%.
The Nifty IT was the worst-performing sectoral index, down by nearly 1 per cent in intra-day deals on Thursday.
TCS Q1 Preview: The IT major is likely to see a 0.21 per cent quarter-on-quarter (Q-o-Q) dip in revenue to ₹64,342.93 crore, according to analysts
Between December 31, 2024 and June 25, 2025 the Nifty IT index has slumped 9.90 per cent, in stark contrast to the Nifty 50, which is up 6.76 per cent during the same period, NSE data showed.
IT stocks today: Accenture's Q3 results show that the adverse macro environment has started impacting clients' tech spending decisions, which may hit IT stocks in the near-term