Shares of information technology (IT) companies extended their rally on Wednesday, with the Nifty IT index jumping 3.06 per cent to 31,349.20 in intraday trade on the National Stock Exchange (NSE). The index gained for the fourth consecutive trading session, rising 9.66 per cent over the past one week.
All 10 constituents of the Nifty IT index traded in positive territory, with Infosys emerging as the top gainer, rising over 5 per cent. Coforge followed with over 4 per cent gain, while LTIMindtree advanced 3 per cent during Wednesday’s session. Other major IT stocks, including Oracle Financial Services Software (OFSS), Tata Consultancy Services (TCS) and Wipro, also witnessed strong buying interest, climbing over 2 per cent each.
The Nifty IT index has witnessed a strong recovery in recent months, extending its upward momentum. So far this month, the index has climbed nearly 16 per cent, rebounding more than 21 per cent from its 52-week low of 25,699.10 recorded on July 1, 2026.
Key reasons behind the IT index rally
Indian technology stocks have staged a strong rebound after coming under significant pressure from the global AI trade. A sharp correction in semiconductor and chip-related stocks across key Asian markets, including South Korea, China and Taiwan, has helped drive renewed investor interest in domestic IT shares, lifting the Nifty IT index.
On Wednesday, South Korea’s Kospi index plunged nearly 13 per cent amid intense selling in chipmaker stocks. Likewise, Japan’s Nikkei index declined 3 per cent as AI-related shares witnessed heavy profit-booking.
Apart from global cues, domestic factors also supported the rally. Stronger-than-expected June-quarter earnings from IT companies and positive sentiment in the broader Indian equity market, which advanced more than 1 per cent in intraday trade, further fuelled gains in technology stocks.
(Disclaimer: The above article is meant for informational purposes only and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
Akshat Mittal is the Chief Copy Editor at ET NOW with over 6 years of experience, specialising in Markets, Personal Finance, and General News. Before joining ET NOW, he worked with prominent media organisations and has reported on numerous major events firsthand.
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