However, despite recovery from lows, the Nifty IT index underperformed the market by falling 22 per cent, as against a 7.2 per cent decline in the Nifty 50 thus far in CY2026.
Gains in IT index were led by large-cap IT stocks, with HCLTech, LTIMindtree and Persistent Systems among the key contributors
At 12:44 PM on Monday, the Nifty IT index was the top gainer among sectoral indices, up 4.24 per cent, as compared to 0.01 per cent rise in the Nifty 50.
At 09:38 AM on Friday, the Nifty IT index was the top gainer among sectoral indices, up 1.8 per cent, as compared to a 1 per cent rise in the Nifty 50.
Technical analyst at Mirae Asset Sharekhan believes that the short-term trend for TCS seems 'Neutral', but 'Bullish' from the medium-term perspective; hence expects an upside towad ₹2,500 levels.
TCS reported a 4.61 per cent Y-o-Y increase in its net profit to ₹13,349 crore for Q1 FY27. Its revenue jumped by 13.9 per cent Y-o-Y to ₹72,275 crore.
Stocks to watch today: TCS, Maruti Suzuki, JSW Steel, JK Tyre, Federal Bank, AU SFB, SAIL, Nalco, NLC India, Anand Rathi Wealth, JSW Steel, Cummins India, among others, will be in focus today
The NSE IT index declined nearly 2% in Thursday's early trade, dragged by TCS and Infosys. TCS to announce Q1 results after market hours today.
Stocks to watch today: TCS, SBI, Tata Steel, GMR Airports, M&M, HFCL, RIL, Fortis Healthcare, JSW Infra, Swiggy, Pidilite, Shree Cement, among others, will be in focus today
TCS Q1 results 2026 date and time: TCS will announce quarterly earnings on July 9 after market hours. TCS could also announce a dividend, for which it has set July 15 as the record date.
In the past four trading days, IT index outperformed the market by soaring 9 per cent, as against a 2 per cent gain in the Nifty 50.
The Nifty IT currently quotes around 20 per cent below its 200-DMA. TCS, Infosys, Wipro and HCL Technologies are down in the range of 21-26 per cent form respective 200-DMAs.
In the past 20 trading days, the Nifty IT index tanked 17 per cent, as against a 2.2 per cent rise in the Nifty 50 till Wednesday.
As per data, the Nifty IT Index has corrected nearly 42 per cent from its all-time high of 46,089, recorded in December 2024, and is now trading close to its April 2023 lows.
In the past three weeks, the Nifty IT index tanked 13 per cent, as against 2 per cent rise in the Nifty 50.
Indian IT stocks fell on Friday as Accenture narrowed its annual revenue growth forecast and issued weaker-than-expected fourth-quarter guidance, despite steady quarterly earnings.
Fed decision, weak US cues: At 10:18 AM on Thursday, the Nifty IT index was the top sectoral loser, down 1 per cent, as against a 0.10 per cent rise in the Nifty 50.
Hitesh Rathi, technical analyst at Angel One says that IT stocks continue to trade with a negative bias on the charts, and are prone to further fall if they dip below the crucial support zones.
Thus far in the calendar year 2026, the market price of TCS tanked 33 per cent, as compared to 11.5 per cent fall in the Nifty 50.
IT stocks witnessed heavy selling pressure on Wednesday tracking overnight losses in technology shares in the US market. Indian ADRs cracked up to 8%.